Brown Brothers Harriman & Co. Buys 7,175 Shares of The Procter & Gamble Company (NYSE:PG)

Brown Brothers Harriman & Co. increased its stake in The Procter & Gamble Company (NYSE:PG) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 361,690 shares of the company’s stock after acquiring an additional 7,175 shares during the period. Brown Brothers Harriman & Co.’s holdings in Procter & Gamble were worth $62,645,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PG. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble during the 2nd quarter valued at $29,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble during the 2nd quarter valued at $34,000. Quest Partners LLC bought a new stake in Procter & Gamble in the 2nd quarter worth $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Procter & Gamble in the second quarter valued at about $44,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Shares of PG stock opened at $176.28 on Monday. The company has a market capitalization of $415.15 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company’s 50-day moving average is $170.04 and its 200 day moving average is $168.66.

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

Procter & Gamble Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction 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. This represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,673 shares of company stock valued at $10,102,753 over the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PG shares. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble 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.