Park Edge Advisors LLC Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Park Edge Advisors LLC boosted its holdings in The Procter & Gamble Company (NYSE:PG) by 87.0% in the 1st quarter, HoldingsChannel reports. The fund owned 22,028 shares of the company’s stock after acquiring an additional 10,248 shares during the quarter. Procter & Gamble comprises about 1.0% of Park Edge Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Park Edge Advisors LLC’s holdings in Procter & Gamble were worth $3,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Baker Avenue Asset Management LP increased its position in shares of Procter & Gamble by 3.3% in the third quarter. Baker Avenue Asset Management LP now owns 4,216 shares of the company’s stock valued at $615,000 after buying an additional 135 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in Procter & Gamble by 1.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 39,882 shares of the company’s stock valued at $5,817,000 after acquiring an additional 607 shares in the last quarter. WealthPlan Investment Management LLC raised its position in Procter & Gamble by 420.4% during the third quarter. WealthPlan Investment Management LLC now owns 4,829 shares of the company’s stock worth $704,000 after acquiring an additional 3,901 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of Procter & Gamble in the third quarter valued at about $271,000. Finally, Stonebridge Capital Advisors LLC increased its stake in shares of Procter & Gamble by 1.2% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 137,505 shares of the company’s stock worth $20,056,000 after purchasing an additional 1,652 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays lifted their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Jefferies Financial Group upped their target price on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, BNP Paribas started coverage on shares of Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $163.83 on Friday. The stock has a market capitalization of $386.66 billion, a P/E ratio of 26.77, a PEG ratio of 3.13 and a beta of 0.41. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $165.74 and its 200 day moving average price is $159.22. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $169.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.46%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the transaction, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,544 shares of company stock valued at $25,413,051. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.