Bessemer Group Inc. Reduces Position in Procter & Gamble Company (The) (NYSE:PG)

Bessemer Group Inc. trimmed its holdings in Procter & Gamble Company (The) (NYSE:PG) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,564 shares of the company’s stock after selling 68,537 shares during the quarter. Bessemer Group Inc.’s holdings in Procter & Gamble were worth $121,265,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in Procter & Gamble during the fourth quarter worth about $5,244,463,000. GAMMA Investing LLC grew its stake in shares of Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after buying an additional 7,913,335 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after buying an additional 2,973,757 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PG has been the subject of several recent analyst reports. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday, April 25th. Evercore ISI reiterated an “outperform” rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Piper Sandler upped their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Royal Bank Of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.45.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $159.03 on Thursday. The business has a 50-day simple moving average of $162.88 and a 200-day simple moving average of $165.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a market cap of $372.85 billion, a PE ratio of 25.24, a P/E/G ratio of 4.73 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a yield of 2.66%. Procter & Gamble’s dividend payout ratio (DPR) is currently 67.14%.

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.