Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Procter & Gamble Company (NYSE:PG) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,815,243 shares of the company’s stock after acquiring an additional 272,461 shares during the period. Procter & Gamble makes up approximately 0.9% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 15th biggest position. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Procter & Gamble worth $304,325,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Swedbank AB raised its position in Procter & Gamble by 3.9% in the 3rd quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock worth $260,432,000 after purchasing an additional 56,583 shares during the period. Howard Capital Management Group LLC grew its stake in shares of Procter & Gamble by 1.0% during the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock valued at $1,442,000 after buying an additional 82 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Procter & Gamble by 14.7% in the third quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after buying an additional 608,168 shares during the period. Fiera Capital Corp lifted its stake in shares of Procter & Gamble by 32.3% during the 3rd quarter. Fiera Capital Corp now owns 27,365 shares of the company’s stock worth $4,740,000 after acquiring an additional 6,677 shares during the last quarter. Finally, United Bank boosted its holdings in Procter & Gamble by 1.7% during the 3rd quarter. United Bank now owns 13,367 shares of the company’s stock valued at $2,315,000 after acquiring an additional 219 shares during the period. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. DA Davidson reissued a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus boosted their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.11.

Procter & Gamble Stock Up 0.8 %

NYSE:PG opened at $176.06 on Monday. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company’s 50-day simple moving average is $166.85 and its 200-day simple moving average is $169.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The stock has a market capitalization of $412.84 billion, a P/E ratio of 28.04, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insider Activity at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 over the last quarter. 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.