The Procter & Gamble Company (NYSE:PG) Stake Raised by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of The Procter & Gamble Company (NYSE:PG) by 1,721.8% during the fourth quarter, Holdings Channel reports. The fund owned 337,261 shares of the company’s stock after acquiring an additional 318,748 shares during the quarter. Van ECK Associates Corp’s holdings in Procter & Gamble were worth $49,422,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PG. Naples Money Management LLC bought a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $29,000. Wyrmwood Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new position in Procter & Gamble during the 4th quarter valued at about $33,000. Mendota Financial Group LLC lifted its stake in Procter & Gamble by 636.6% in the fourth quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after buying an additional 261 shares during the period. Finally, Morton Brown Family Wealth LLC boosted its stake in Procter & Gamble by 206.6% during the 4th quarter. Morton Brown Family Wealth LLC now owns 417 shares of the company’s stock worth $61,000 after acquiring an additional 281 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.3 %

PG stock traded up $0.54 during midday trading on Tuesday, reaching $162.20. 1,450,391 shares of the company traded hands, compared to its average volume of 6,860,303. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $164.32. The firm has a market capitalization of $382.81 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 3.27 and a beta of 0.44. The business has a 50 day moving average of $159.72 and a 200-day moving average of $153.78.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.48%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 22,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now directly owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the sale, the chief executive officer now directly owns 4,859 shares in the company, valued at approximately $768,256.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 22,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total value of $3,549,040.00. Following the transaction, the chief executive officer now directly owns 36,845 shares in the company, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,865 shares of company stock worth $9,009,280. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and upped their price target for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. The Goldman Sachs Group started coverage on shares of Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a research report on Thursday, January 18th. Barclays raised their price objective on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada upped their target price on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.76.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.