Summit Global Investments Takes $2 Million Position in Procter & Gamble Company (The) $PG

Summit Global Investments acquired a new stake in shares of Procter & Gamble Company (The) (NYSE:PG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,617 shares of the company’s stock, valued at approximately $1,997,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter worth about $4,664,783,000. Cardano Risk Management B.V. raised its position in shares of Procter & Gamble by 1,104.8% during the fourth quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock worth $1,364,518,000 after acquiring an additional 8,731,126 shares during the last quarter. Auto Owners Insurance Co raised its position in shares of Procter & Gamble by 14,231.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock worth $508,700,000 after acquiring an additional 3,524,876 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Procter & Gamble by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after acquiring an additional 2,829,151 shares during the period. Finally, Amundi boosted its holdings in Procter & Gamble by 26.3% in the third quarter. Amundi now owns 10,682,455 shares of the company’s stock valued at $1,606,748,000 after acquiring an additional 2,222,560 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PG shares. Evercore set a $162.00 target price on shares of Procter & Gamble in a research report on Monday, April 27th. Piper Sandler boosted their price target on shares of Procter & Gamble from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Sanford C. Bernstein assumed coverage on shares of Procter & Gamble in a research report on Thursday, June 11th. They set a “market perform” rating and a $156.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $158.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Bank of America dropped their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $161.52.

Procter & Gamble Trading Up 0.7%

Shares of PG stock opened at $144.47 on Thursday. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $167.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. The stock has a 50 day simple moving average of $147.94 and a two-hundred day simple moving average of $148.78. The company has a market cap of $335.82 billion, a P/E ratio of 21.82, a PEG ratio of 4.42 and a beta of 0.39.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Research analysts forecast that Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were paid a dividend of $1.0885 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 annualized dividend and a yield of 3.0%. Procter & Gamble’s dividend payout ratio is currently 65.71%.

Procter & Gamble Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.