Red Cedar Investment Management LLC Acquires 7,916 Shares of The Procter & Gamble Company (NYSE:PG)

Red Cedar Investment Management LLC lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 67.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,650 shares of the company’s stock after acquiring an additional 7,916 shares during the period. Red Cedar Investment Management LLC’s holdings in Procter & Gamble were worth $3,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble in the 3rd quarter worth about $33,000. Bay Harbor Wealth Management LLC grew its position in Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Procter & Gamble in the 4th quarter worth about $46,000. Costello Asset Management INC grew its position in Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after purchasing an additional 300 shares in the last quarter. Finally, DecisionPoint Financial LLC grew its position in Procter & Gamble by 46.7% in the 4th quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $55,000 after purchasing an additional 105 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PG. UBS Group reduced their price objective on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays increased their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, DA Davidson reissued a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.53.

Insiders Place Their Bets

In other news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the transaction, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. The trade was a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,097 shares of company stock worth $25,635,076 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Performance

NYSE PG opened at $162.84 on Friday. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The stock has a market capitalization of $381.84 billion, a PE ratio of 25.93, a P/E/G ratio of 3.79 and a beta of 0.45. The company’s 50 day simple moving average is $166.73 and its two-hundred day simple moving average is $169.45.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the prior year, the company posted $1.84 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.17%.

About Procter & Gamble

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.