Sherman Asset Management Inc. Invests $424,000 in The Procter & Gamble Company (NYSE:PG)

Sherman Asset Management Inc. purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,531 shares of the company’s stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the 3rd quarter valued at approximately $33,000. Noble Wealth Management PBC bought a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $39,000. Bay Harbor Wealth Management LLC raised its stake in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after acquiring an additional 243 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $46,000. Finally, Costello Asset Management INC raised its stake in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PG. JPMorgan Chase & Co. cut their price objective 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. Piper Sandler cut their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus raised their target price on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company raised their target price on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $181.11.

Procter & Gamble Trading Up 1.1 %

Shares of PG opened at $173.84 on Friday. The stock has a fifty day moving average price of $166.29 and a two-hundred day moving average price of $169.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a market cap of $407.63 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 3.76 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 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 period in the previous year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. Procter & Gamble’s payout ratio is 64.01%.

About Procter & Gamble

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.