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Forum Financial Management LP Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

Financial News Live · Jan 27, 2023 17:34

Forum Financial Management LP lifted its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 4.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,565 shares of the company's stock after buying an additional 856 shares during the period. Forum Financial Management LP's holdings in Procter & Gamble were worth $2,596,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PG. Price T Rowe Associates Inc. MD increased its stake in Procter & Gamble by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company's stock valued at $2,382,268,000 after acquiring an additional 3,054,844 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Procter & Gamble by 108.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,339,628 shares of the company's stock valued at $421,628,000 after acquiring an additional 1,737,742 shares during the last quarter. Legal & General Group Plc increased its stake in Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company's stock valued at $2,665,327,000 after acquiring an additional 637,095 shares during the last quarter. Walker Asset Management LLC increased its stake in Procter & Gamble by 6,101.2% in the second quarter. Walker Asset Management LLC now owns 592,901 shares of the company's stock valued at $89,111,000 after acquiring an additional 583,340 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Procter & Gamble by 12.8% in the second quarter. Bank of Montreal Can now owns 3,825,691 shares of the company's stock valued at $613,680,000 after acquiring an additional 433,604 shares during the last quarter. Institutional investors own 62.13% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays decreased their price objective on Procter & Gamble from $161.00 to $158.00 and set an "overweight" rating on the stock in a report on Monday. Jefferies Financial Group lifted their price objective on Procter & Gamble from $149.00 to $164.00 in a report on Tuesday, November 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Procter & Gamble from $156.00 to $162.00 and gave the stock a "buy" rating in a report on Tuesday, December 6th. The Goldman Sachs Group downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $143.00 price objective on the stock. in a report on Sunday, October 9th. Finally, StockNews.com downgraded Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, January 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and an average target price of $153.00.

Procter & Gamble Stock Down 1.0 %

Shares of PG traded down $1.48 during mid-day trading on Friday, reaching $139.67. The company had a trading volume of 1,598,990 shares, compared to its average volume of 7,169,077. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The firm has a 50-day moving average price of $149.14 and a 200 day moving average price of $141.98. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.98. The company has a market capitalization of $329.50 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.95 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.01. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The firm had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the previous year, the firm posted $1.66 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th will be given a $0.9133 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.62%. Procter & Gamble's dividend payout ratio is currently 64.04%.

Insider Transactions at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 33,968 shares of the company's stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $137.44, for a total value of $4,668,561.92. Following the transaction, the chief executive officer now directly owns 38,990 shares of the company's stock, valued at approximately $5,358,785.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar G. Raman sold 9,922 shares of the company's stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $145.00, for a total value of $1,438,690.00. Following the transaction, the chief executive officer now directly owns 12,312 shares of the company's stock, valued at approximately $1,785,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R. Alexandra Keith sold 33,968 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $137.44, for a total value of $4,668,561.92. Following the transaction, the chief executive officer now directly owns 38,990 shares in the company, valued at $5,358,785.60. The disclosure for this sale can be found here. Insiders have sold a total of 58,812 shares of company stock valued at $8,190,363 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

About Procter & Gamble

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.