Zacks Investment Management Has $232.17 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Zacks Investment Management lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,340,451 shares of the company’s stock after purchasing an additional 133,719 shares during the period. Procter & Gamble accounts for approximately 2.0% of Zacks Investment Management’s investment portfolio, making the stock its 5th biggest holding. Zacks Investment Management’s holdings in Procter & Gamble were worth $232,166,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its position in shares of Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares in the last quarter. Radnor Capital Management LLC bought a new position in Procter & Gamble during the 3rd quarter worth $5,705,000. Welch Group LLC raised its holdings in Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after acquiring an additional 2,990 shares in the last quarter. Swiss National Bank lifted its position in shares of Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after acquiring an additional 39,000 shares during the period. Finally, Curi RMB Capital LLC grew its holdings in shares of Procter & Gamble by 20.3% during the 3rd quarter. Curi RMB Capital LLC now owns 21,655 shares of the company’s stock worth $3,751,000 after purchasing an additional 3,652 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, August 29th. Morgan Stanley lifted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $180.45.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,080 shares of company stock valued at $14,629,038. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $173.83 on Friday. The stock has a market cap of $409.38 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 3.77 and a beta of 0.44. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $180.43. The company’s fifty day moving average is $170.75 and its 200 day moving average is $169.34. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.