OFI Invest Asset Management Makes New Investment in The Procter & Gamble Company (NYSE:PG)

OFI Invest Asset Management acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 215,288 shares of the company’s stock, valued at approximately $34,856,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. FMR LLC boosted its stake in shares of Procter & Gamble by 2.7% during the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after buying an additional 689,282 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Procter & Gamble by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock valued at $3,133,850,000 after acquiring an additional 312,203 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Procter & Gamble by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,881,907 shares of the company’s stock valued at $2,830,252,000 after acquiring an additional 459,437 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $176.06 on Friday. The stock has a market cap of $412.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The stock’s 50 day moving average price is $166.85 and its 200 day moving average price is $169.77.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $21.66 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors 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 dividend yield of 2.29%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PG. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler lowered their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Wells Fargo & Company lifted their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays increased their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.11.

Insider Buying and Selling

In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,450 shares of company stock valued at $23,988,008. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Company 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.