BlackRock Inc. Increases Stake in Procter & Gamble (PG)

BlackRock Inc. grew its holdings in shares of Procter & Gamble (NYSE:PG) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,637,818 shares of the company’s stock after buying an additional 793,096 shares during the period. Procter & Gamble accounts for approximately 0.7% of BlackRock Inc.’s holdings, making the stock its 16th biggest position. BlackRock Inc. owned 6.33% of Procter & Gamble worth $14,667,526,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PG. Signature Estate & Investment Advisors LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth about $103,000. Cerebellum GP LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth about $122,000. James Investment Research Inc. raised its position in shares of Procter & Gamble by 400.0% in the 4th quarter. James Investment Research Inc. now owns 1,500 shares of the company’s stock worth $138,000 after purchasing an additional 1,200 shares during the last quarter. Lenox Wealth Advisors Inc. raised its position in shares of Procter & Gamble by 140.5% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 1,621 shares of the company’s stock worth $149,000 after purchasing an additional 947 shares during the last quarter. Finally, Litman Gregory Asset Management LLC purchased a new position in shares of Procter & Gamble in the 3rd quarter worth about $173,000. Hedge funds and other institutional investors own 63.02% of the company’s stock.

PG has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Procter & Gamble from $92.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, April 5th. Bank of America reissued a “neutral” rating and issued a $90.00 target price on shares of Procter & Gamble in a research report on Thursday, April 19th. Deutsche Bank lowered Procter & Gamble from a “buy” rating to a “hold” rating and set a $101.00 target price for the company. in a research report on Friday, April 20th. Argus lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. Finally, Barclays reissued a “hold” rating and issued a $80.00 target price on shares of Procter & Gamble in a research report on Sunday, April 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $82.85.

Procter & Gamble opened at $73.45 on Friday, according to Marketbeat. Procter & Gamble has a 52 week low of $70.73 and a 52 week high of $94.67. The stock has a market cap of $186.45 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. Procter & Gamble had a net margin of 15.17% and a return on equity of 20.72%. The firm had revenue of $16.28 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. sell-side analysts forecast that Procter & Gamble will post 4.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th were given a dividend of $0.7172 per share. The ex-dividend date of this dividend was Thursday, April 19th. This represents a $2.87 annualized dividend and a dividend yield of 3.91%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.69. Procter & Gamble’s dividend payout ratio is presently 73.21%.

In other news, insider Jeffrey K. Schomburger sold 37,776 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $81.37, for a total transaction of $3,073,833.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven D. Bishop sold 2,075 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $71.87, for a total transaction of $149,130.25. Following the sale, the insider now directly owns 42,524 shares of the company’s stock, valued at approximately $3,056,199.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,456 shares of company stock valued at $3,663,460 in the last ninety days. Insiders own 0.35% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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