Yacktman Asset Management LP Reduces Position in The Procter & Gamble Company (NYSE:PG)

Yacktman Asset Management LP decreased its position in The Procter & Gamble Company (NYSE:PG) by 5.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,523,944 shares of the company’s stock after selling 135,572 shares during the period. Procter & Gamble makes up about 3.4% of Yacktman Asset Management LP’s investment portfolio, making the stock its 9th largest position. Yacktman Asset Management LP’s holdings in Procter & Gamble were worth $369,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in shares of Procter & Gamble by 106.2% in the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after acquiring an additional 3,159,796 shares during the last quarter. Wellington Management Group LLP raised its holdings in Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after buying an additional 3,047,557 shares during the period. International Assets Investment Management LLC lifted its stake in Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after buying an additional 2,727,685 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after acquiring an additional 2,268,805 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Procter & Gamble during the third quarter valued at approximately $246,412,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 0.7 %

Shares of PG traded down $1.15 during trading hours on Friday, hitting $161.40. 2,971,782 shares of the company were exchanged, compared to its average volume of 6,921,705. The firm’s 50 day moving average is $159.57 and its 200-day moving average is $153.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $164.32. The company has a market cap of $380.93 billion, a PE ratio of 26.30, a PEG ratio of 3.30 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a $1.0065 dividend. The ex-dividend date is Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Wall Street Analyst Weigh In

PG has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on shares of Procter & Gamble in a research report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective on the stock. Barclays raised their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, January 18th. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Finally, Raymond James increased their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $169.76.

Insider Activity

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 45,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $156.00, for a total value of $7,020,000.00. Following the completion of the sale, the chief executive officer now directly owns 973 shares of the company’s stock, valued at approximately $151,788. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the sale, the chief executive officer now owns 4,859 shares of the company’s stock, valued at approximately $768,256.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ma. Fatima Francisco sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $156.00, for a total transaction of $7,020,000.00. Following the transaction, the chief executive officer now directly owns 973 shares of the company’s stock, valued at $151,788. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,865 shares of company stock valued at $16,029,280. 0.17% of the stock is owned by company insiders.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.