Woodline Partners LP Invests $22.83 Million in The Procter & Gamble Company (NYSE:PG)

Woodline Partners LP bought a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 136,148 shares of the company’s stock, valued at approximately $22,825,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC lifted its stake 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 during the period. Navigoe LLC purchased a new position in Procter & Gamble during the fourth quarter valued at $31,000. Hoey Investments Inc. boosted its holdings in shares of Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of Procter & Gamble in the 4th quarter worth about $34,000. Finally, Atlantic Private Wealth LLC increased its stake in shares of Procter & Gamble by 95.3% in the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,520 shares of company stock valued at $10,999,268 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Stock Up 0.5%

PG stock opened at $165.66 on Wednesday. The business’s 50-day moving average is $164.37 and its two-hundred day moving average is $167.30. The company has a market cap of $388.40 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.55%. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Analyst Upgrades and Downgrades

PG has been the topic of several research reports. Truist Financial dropped their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Royal Bank of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Bank of America dropped their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler raised their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.52.

About Procter & Gamble

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.