SouthState Corp Boosts Stake in The Procter & Gamble Company (NYSE:PG)

SouthState Corp boosted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 78,995 shares of the company’s stock after acquiring an additional 289 shares during the period. SouthState Corp’s holdings in Procter & Gamble were worth $13,682,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PG. China Universal Asset Management Co. Ltd. increased its position in shares of Procter & Gamble by 5.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock worth $5,192,000 after purchasing an additional 1,657 shares in the last quarter. Quent Capital LLC increased its position in shares of Procter & Gamble by 2.0% during the first quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after purchasing an additional 206 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Procter & Gamble by 0.3% during the first quarter. Bessemer Group Inc. now owns 784,525 shares of the company’s stock worth $127,289,000 after purchasing an additional 2,655 shares in the last quarter. Evermay Wealth Management LLC increased its position in shares of Procter & Gamble by 9.0% in the 1st quarter. Evermay Wealth Management LLC now owns 6,987 shares of the company’s stock valued at $1,134,000 after acquiring an additional 574 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Procter & Gamble in the 1st quarter valued at $1,552,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Price Performance

NYSE:PG opened at $170.80 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock has a market capitalization of $402.24 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The stock’s 50-day moving average price is $170.21 and its 200-day moving average price is $168.45.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the previous year, the firm posted $1.83 EPS. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Transactions at Procter & Gamble

In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The trade was a 12.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,727 shares of company stock worth $46,014,037 in the last ninety days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.