Mirabaud Asset Management Ltd Trims Stake in The Procter & Gamble Company (NYSE:PG)

Mirabaud Asset Management Ltd lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,632 shares of the company’s stock after selling 895 shares during the quarter. Procter & Gamble makes up 0.9% of Mirabaud Asset Management Ltd’s portfolio, making the stock its 29th largest holding. Mirabaud Asset Management Ltd’s holdings in Procter & Gamble were worth $1,944,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. Raymond James Financial Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter worth $1,010,685,000. Geode Capital Management LLC raised its position in shares of Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the period. Finally, Franklin Resources Inc. increased its stake in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PG shares. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. UBS Group restated a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Truist Financial lifted their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Procter & Gamble Stock Down 5.0 %

NYSE PG opened at $163.73 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The firm has a market capitalization of $383.92 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.76 and a beta of 0.41. The company has a fifty day moving average of $169.17 and a two-hundred day moving average of $169.20.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was 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 in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 in the last quarter. 0.18% of the stock is owned by company insiders.

Procter & Gamble Profile

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.