Procter & Gamble Company (The) $PG Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its stake in Procter & Gamble Company (The) (NYSE:PG) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 417,480 shares of the company’s stock after acquiring an additional 36,877 shares during the period. Rakuten Investment Management Inc.’s holdings in Procter & Gamble were worth $61,921,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PG. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Procter & Gamble in the second quarter valued at about $26,000. Montgomery Financial Services LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth approximately $28,000. Paladin Partners LLC bought a new position in shares of Procter & Gamble in the second quarter valued at approximately $29,000. Evergreen Advisors LLC acquired a new position in shares of Procter & Gamble in the 1st quarter worth approximately $37,000. Finally, Toews Corp ADV acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $37,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Paul Gama sold 2,894 shares of Procter & Gamble stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $165.00, for a total value of $477,510.00. Following the completion of the sale, the chief executive officer directly owned 43,899 shares in the company, valued at approximately $7,243,335. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Janzaruk sold 9,479 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $163.00, for a total transaction of $1,545,077.00. Following the sale, the chief accounting officer directly owned 1,271 shares of the company’s stock, valued at $207,173. This represents a 88.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 128,085 shares of company stock valued at $20,696,098 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PG. Bank of America decreased their price target on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. DZ Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Piper Sandler increased their target price on Procter & Gamble from $145.00 to $167.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Freedom Broker upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research note on Friday, October 23rd. Finally, HSBC downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price target for the stock from $182.00 to $149.00 in a research report on Thursday, July 30th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.57.

Procter & Gamble News Summary

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: P&G has raised its dividend for 70 consecutive years, a track record that supports its appeal to income-focused investors. Article: Procter & Gamble dividend history
• Neutral Sentiment: The company closed a €3.25 billion euro-note offering. The financing provides capital but adds debt obligations; the available report does not specify how the proceeds will be used. Article: Euro note offering
• Negative Sentiment: Analysts note that rising costs and shoppers’ focus on value could make it harder for P&G to sustain growth in premium brands, despite strong loyalty and innovation. Article: Premium brands in a value-seeking market
• Negative Sentiment: Several executives and the chief accounting officer reported share sales. Such transactions can add near-term concern, though insider sales alone do not establish a negative outlook. SEC filing: Insider transaction

Procter & Gamble Stock Performance

Shares of PG stock opened at $161.80 on Wednesday. The company has a market capitalization of $375.02 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 4.02 and a beta of 0.36. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The company’s 50 day moving average price is $150.68 and its two-hundred day moving average price is $149.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.72.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The company had revenue of $23.28 billion during the quarter, compared to analysts’ expectations of $22.80 billion. During the same period last year, the business earned $1.99 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be given a $1.0885 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.35 annualized dividend and a dividend yield of 2.7%. Procter & Gamble’s dividend payout ratio is presently 65.51%.

About Procter & Gamble

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.