Homestead Advisers Corp Takes $40.45 Million Position in The Procter & Gamble Company (NYSE:PG)

Homestead Advisers Corp purchased a new stake in The Procter & Gamble Company (NYSE:PG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 241,300 shares of the company’s stock, valued at approximately $40,454,000.

A number of other hedge funds also recently added to or reduced their stakes in PG. NewSquare Capital LLC grew its position in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble in the third quarter valued at about $33,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Procter & Gamble during the fourth quarter worth about $34,000. Atlantic Private Wealth LLC raised its holdings 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 purchasing an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in Procter & Gamble in the fourth quarter valued at about $39,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 2.2 %

Shares of PG opened at $166.48 on Thursday. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The firm has a market capitalization of $390.38 billion, a P/E ratio of 26.51, 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’s fifty day simple moving average is $168.31 and its 200 day simple moving average is $169.47.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.01%.

Analyst Ratings Changes

A number of brokerages have issued reports on PG. Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Barclays increased their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Piper Sandler cut their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Finally, DA Davidson reissued a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

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 Company Profile

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.