Harvest Fund Management Co. Ltd Cuts Position in The Procter & Gamble Company (NYSE:PG)

Harvest Fund Management Co. Ltd lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,177 shares of the company’s stock after selling 2,947 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Procter & Gamble were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PG. NewSquare Capital LLC grew its holdings in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Procter & Gamble in the third quarter worth approximately $33,000. LFA Lugano Financial Advisors SA purchased a new stake in Procter & Gamble in the fourth quarter worth approximately $34,000. Noble Wealth Management PBC purchased a new stake in Procter & Gamble in the fourth quarter worth approximately $39,000. Finally, Bay Harbor Wealth Management LLC boosted its holdings in Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,450 shares of company stock worth $23,988,008. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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 report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Piper Sandler decreased their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Stock Down 0.6 %

Shares of PG stock opened at $166.60 on Friday. 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 company has a market capitalization of $390.66 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 3.76 and a beta of 0.41. The company’s fifty day moving average price is $167.97 and its 200-day moving average price is $169.72. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43.

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

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.42%. Procter & Gamble’s dividend payout ratio is currently 64.01%.

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.