Y.D. More Investments Ltd has increased its stake in the Procter & Gamble Company (NYSE: PG) by 4.4% during the second quarter of 2023. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 632 shares during the quarter, Y.D. More Investments Ltd now holds 15,040 shares of Procter & Gamble, valued at approximately $2,395,000.
In addition to Y.D. More Investments, several other institutional investors have altered their positions in Procter & Gamble recently. For example, Private Management Group Inc. increased its stake by 4.8% in the first quarter, owning 1,384 shares worth about $236,000 after purchasing an additional 64 shares. Similarly, Lantz Financial LLC expanded its holdings by 1.2% in the second quarter, raising its total to 5,237 shares valued at $834,000.
Orca Investment Management LLC also raised its position, increasing its ownership by 2.0% to 3,238 shares, valued at $516,000 after adding 64 shares. Meanwhile, Kondo Wealth Advisors Inc. and Silver Oak Securities Incorporated reported increases of 5.2% and 0.3%, respectively, highlighting a robust interest among investors.
Hedge funds and other institutional investors now own 65.77% of Procter & Gamble’s stock, signalling strong institutional confidence in the company.
Insider Transactions and Recent Performance
In notable insider transactions, Procter & Gamble’s Chief Financial Officer, Andre Schulten, sold 11,638 shares on August 19, 2023, at an average price of $157.27. This trade amounted to approximately $1,830,308.26 and reduced his position by 18.11%. Following this sale, Schulten held 52,642 shares, worth about $8,279,007.34.
Additionally, Chief Executive Officer Jon R. Moeller sold 40,119 shares on the same day for a total transaction value of $6,309,515.13, decreasing his holdings by 11.16%. Post-sale, Moeller retained 319,375 shares valued at $50,228,106.25. In total, insiders sold 150,489 shares worth $23,529,864 over the last quarter, representing 0.20% of the company’s stock currently owned by corporate insiders.
On October 24, 2023, Procter & Gamble announced its earnings results, reporting $1.99 earnings per share (EPS) for the quarter, exceeding the consensus estimate of $1.90 by $0.09. The company’s revenue for the quarter was $22.39 billion, surpassing expectations of $22.23 billion. Procter & Gamble achieved a net margin of 19.74% and a return on equity of 32.63%, demonstrating solid growth with a 3.0% increase in revenue compared to the same quarter last year.
Dividends and Analyst Ratings
Procter & Gamble also declared a quarterly dividend of $1.0568 per share, to be paid on November 17, 2023, to stockholders of record as of October 24, 2023. This dividend represents an annualized rate of $4.23, yielding approximately 2.9%. The dividend payout ratio stands at 61.61%, indicating a balanced approach to returning capital to shareholders while investing in growth.
Analysts have provided varied insights regarding Procter & Gamble’s stock. For instance, Bank of America recently reduced its price target from $180.00 to $174.00, maintaining a “buy” rating. Conversely, Berenberg Bank raised its target from $152.00 to $154.00, affirming a “hold” rating. Other notable adjustments include BNP Paribas Exane lowering its target to $172.00 and Barclays reducing its objective to $153.00 while maintaining an “equal weight” rating.
Currently, twelve analysts have rated Procter & Gamble as a “buy,” while nine have assigned a “hold” rating, according to MarketBeat.com. The average rating reflects a “Moderate Buy” sentiment, with an average price target of $171.53.
Procter & Gamble continues to engage in providing branded consumer packaged goods across various segments, including Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine, and Family Care. The company’s strong fundamentals and consistent dividends position it favorably in the market as it navigates the competitive landscape.
