Elgethun Capital Management Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Elgethun Capital Management increased its stake in The Procter & Gamble Company (NYSE:PG) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 3,875 shares of the company’s stock after purchasing an additional 246 shares during the period. Elgethun Capital Management’s holdings in Procter & Gamble were worth $650,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PG. Vanguard Group Inc. raised its position in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock valued at $38,524,976,000 after purchasing an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC lifted its stake in Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock worth $9,457,000,000 after acquiring an additional 1,267,419 shares during the period. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter valued at $5,244,463,000. Franklin Resources Inc. increased its position in Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Procter & Gamble by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock worth $3,133,850,000 after purchasing an additional 312,203 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of PG opened at $163.73 on Monday. The firm has a market cap of $383.92 billion, a PE ratio of 26.07, a P/E/G ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $169.17 and a two-hundred day simple moving average of $169.12.

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

Procter & Gamble Dividend Announcement

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

Wall Street Analyst Weigh In

PG has been the topic of a number of research analyst reports. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial lifted their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $182.00.

Insider Activity

In related news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated 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 completion of 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 valued at $23,988,008 in the last 90 days. Company insiders own 0.18% of the company’s stock.

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.