Freestone Grove Partners LP Makes New $112.03 Million Investment in Procter & Gamble Company (The) $PG

Freestone Grove Partners LP purchased a new position in Procter & Gamble Company (The) (NYSE:PG) in the second quarter, Holdings Channel.com reports. The firm purchased 763,960 shares of the company’s stock, valued at approximately $112,027,000. Procter & Gamble makes up approximately 0.7% of Freestone Grove Partners LP’s investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Gallagher Fiduciary Advisors LLC grew its position in shares of Procter & Gamble by 2.9% during the second quarter. Gallagher Fiduciary Advisors LLC now owns 9,050 shares of the company’s stock worth $1,327,000 after purchasing an additional 254 shares in the last quarter. Odyssean LLC raised its stake in Procter & Gamble by 93.8% during the 2nd quarter. Odyssean LLC now owns 18,847 shares of the company’s stock valued at $2,764,000 after purchasing an additional 9,124 shares during the period. First Bancorp Inc ME lifted its holdings in Procter & Gamble by 0.9% in the 2nd quarter. First Bancorp Inc ME now owns 23,586 shares of the company’s stock worth $3,459,000 after purchasing an additional 200 shares in the last quarter. Valtrion Capital Management LLC boosted its stake in Procter & Gamble by 4.8% in the 2nd quarter. Valtrion Capital Management LLC now owns 2,005 shares of the company’s stock worth $294,000 after purchasing an additional 91 shares during the period. Finally, Jupiter Topco LLC bought a new position in Procter & Gamble in the 2nd quarter worth approximately $168,464,000. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In related news, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the transaction, the insider owned 187,001 shares of the company’s stock, valued at $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew W. Janzaruk sold 359 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the transaction, the chief accounting officer directly owned 1,271 shares in the company, valued at $184,600.04. The trade was a 22.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,627 shares of company stock valued at $953,417. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PG. HSBC reiterated a “hold” rating and set a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a research report on Thursday, July 30th. Royal Bank Of Canada restated an “outperform” rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. Citigroup cut their target price on shares of Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $149.00 price objective on shares of Procter & Gamble in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $161.19.

Procter & Gamble Stock Up 0.4%

Shares of PG opened at $143.71 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $147.11 and a 200 day moving average of $148.28. The company has a market cap of $334.04 billion, a PE ratio of 21.71, a P/E/G ratio of 4.41 and a beta of 0.39. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25.

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

Procter & Gamble Announces Dividend

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

About Procter & Gamble

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.