Thoroughbred Financial Services LLC Cuts Position in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Thoroughbred Financial Services LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,419 shares of the company’s stock after selling 302 shares during the period. Thoroughbred Financial Services LLC’s holdings in Procter & Gamble were worth $2,920,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PG. NewSquare Capital LLC grew its holdings in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Hoey Investments Inc. grew its stake in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble during the 4th quarter valued at about $34,000. Atlantic Private Wealth LLC raised its position in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

PG stock opened at $172.17 on Friday. The company has a market cap of $403.71 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $169.19 and a two-hundred day moving average price of $169.29. The Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PG shares. DA Davidson reissued a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Truist Financial upped their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $182.00.

View Our Latest Stock Report on Procter & Gamble

Procter & Gamble Profile

(Free Report)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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