Norges Bank Takes Position in The Procter & Gamble Company (NYSE:PG)

Norges Bank purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,282,211 shares of the company’s stock, valued at approximately $5,244,463,000. Procter & Gamble makes up 0.7% of Norges Bank’s holdings, making the stock its 17th largest holding. Norges Bank owned about 1.33% of Procter & Gamble as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PG. Raymond James Financial Inc. bought a new position in Procter & Gamble during the 4th quarter worth approximately $1,010,685,000. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 7.0% during the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in Procter & Gamble by 25,115.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,736,857 shares of the company’s stock valued at $291,184,000 after acquiring an additional 1,729,969 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PG shares. Wells Fargo & Company boosted their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. DA Davidson reissued a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Finally, 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 Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Stock Up 2.2 %

Shares of NYSE:PG opened at $166.48 on Thursday. The company has a market capitalization of $390.38 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. 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 business has a fifty day moving average price of $168.31 and a two-hundred day moving average price of $169.47.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data 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 business had revenue of $21.88 billion for 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 EPS. Analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued 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 2.42%. Procter & Gamble’s payout ratio is 64.01%.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction 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 approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 over the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Profile

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.