NorthCrest Asset Management LLC increased its stake in shares of The Procter & Gamble Company (NYSE: PG – Get Rating) by 624.7% in the first quarter, according to its latest 13F filing with the SEC. The fund held 131,952 shares of the company after purchasing an additional 113,745 shares during the period. Procter & Gamble represents about 1.0% of NorthCrest Asset Management LLC’s portfolio, making the stock its 25th largest holding. NorthCrest Asset Management LLC’s holdings in Procter & Gamble were worth $20,163,000 when it last filed with the SEC.
Other hedge funds have also recently increased or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new position in Procter & Gamble during Q4 valued at approximately $40,000. Delos Wealth Advisors LLC acquired a new position in Procter & Gamble during Q4 valued at approximately $50,000. Level Financial Advisors Inc. acquired a new position in Procter & Gamble during Q4 worth approximately $51,000. LFA Lugano Financial Advisors SA acquired a new position in Procter & Gamble during the 4th quarter valued at approximately $53,000. Finally, James Reed Financial Services Inc. acquired a new position in Procter & Gamble during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds hold 63.64% of the company’s shares.
PG opened at $140.92 on Wednesday. The company has a fifty-day moving average price of $148.42 and a 200-day moving average price of $154.17. The company has a market capitalization of $338.11 billion, a P/E ratio of 24.59, a price-to-earnings growth ratio of 4.08 and a beta of 0.40. The company has a debt ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.47. The Procter & Gamble Company has a one-year low of $129.50 and a one-year high of $165.35.
Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly results on Wednesday, April 20. The company reported EPS of $1.33 for the quarter, beating consensus analyst estimates of $1.28 by $0.05. The company posted revenue of $19.38 billion in the quarter, versus analyst estimates of $18.69 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The company’s revenue for the quarter increased 7.0% year over year. During the same period of the previous year, the company achieved EPS of $1.26. On average, analysts expect The Procter & Gamble Company to post earnings per share of 5.84 for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, April 22 received a dividend of $0.9133 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.87. This represents a dividend of $3.65 on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, April 21. Procter & Gamble’s payout ratio is 63.70%.
Separately, CAO Matthew W. Janzaruk sold 334 shares of the company in a trade on Tuesday, April 26. The shares were sold at an average price of $162.43, for a total value of $54,251.62. Following completion of the transaction, the chief accounting officer now directly owns 1,220 shares of the company, valued at $198,164.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Chairman David S. Taylor sold 60,000 shares of the company in a trade on Thursday, April 21. The stock was sold at an average price of $164.52, for a total transaction of $9,871,200.00. Following completion of the transaction, the President now owns 253,933 shares of the company, valued at $41,777,057.16. The disclosure of this sale can be found here. Insiders sold 108,415 shares of the company valued at $17,777,055 during the last quarter. 0.51% of the shares are held by insiders of the company.
A number of brokerages have weighed in on PG recently. StockNews.com upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a Wednesday, May 18 research note. Barclays cut its price target on Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating on the stock in a Monday May 23 research note. Wells Fargo & Company cut its price target on Procter & Gamble from $180.00 to $170.00 and set an “overweight” rating on the stock in a Wednesday, June 1 research note. Goldman Sachs Group lowered its price target on Procter & Gamble shares from $179.00 to $173.00 in a Tuesday, March 29 report. Finally, Raymond James raised his price target on Procter & Gamble shares from $175.00 to $180.00 and gave the stock an “outperform” rating in a Thursday, April 21 report. Five analysts gave the stock a hold rating and ten gave the stock a buy rating. Based on MarketBeat data, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $165.64.
Procter & Gamble Company Profile (Get a rating)
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, Asia-Pacific, Greater China, India, the Middle East and from Africa. It operates in five segments: Beauty; Grooming; Health care; Fabric and home care; and baby, woman and family care.
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