Brookmont Capital Management Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Brookmont Capital Management decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,821 shares of the company’s stock after selling 214 shares during the quarter. Procter & Gamble comprises 2.3% of Brookmont Capital Management’s portfolio, making the stock its 10th biggest holding. Brookmont Capital Management’s holdings in Procter & Gamble were worth $4,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. International Assets Investment Management LLC increased its holdings in shares of Procter & Gamble by 19,030.8% in the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 3,619,466 shares in the last quarter. Franklin Resources Inc. increased its stake in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $301,950,000. Finally, AMF Tjanstepension AB boosted its position in shares of Procter & Gamble by 416.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley increased their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble Trading Up 0.4 %

PG opened at $161.77 on Wednesday. The Procter & Gamble Company has a 12 month low of $146.28 and a 12 month high of $180.43. The stock has a fifty day moving average price of $169.09 and a 200-day moving average price of $169.44. The firm has a market cap of $380.96 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 3.63 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s payout ratio is 69.48%.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. The trade was a 52.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,447 shares of company stock valued at $12,978,820 in the last 90 days. Insiders own 0.18% of the company’s stock.

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.