Korea Investment CORP Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Korea Investment CORP decreased its position in The Procter & Gamble Company (NYSE:PG) by 7.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,773,814 shares of the company’s stock after selling 143,983 shares during the period. Procter & Gamble accounts for 0.7% of Korea Investment CORP’s investment portfolio, making the stock its 20th largest holding. Korea Investment CORP’s holdings in Procter & Gamble were worth $297,380,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC raised its holdings in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Procter & Gamble during the third quarter valued at approximately $33,000. LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble in the fourth quarter worth approximately $34,000. Atlantic Private Wealth LLC boosted its position in Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after acquiring an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of Procter & Gamble in the 4th quarter valued at $39,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PG shares. Stifel Nicolaus upped their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Barclays raised their price target on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Piper Sandler reduced their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

Procter & Gamble Price Performance

NYSE:PG opened at $166.48 on Thursday. The firm’s fifty day moving average is $168.31 and its two-hundred day moving average is $169.47. The firm has a market cap of $390.38 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43.

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

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Procter & Gamble Company 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.