Marcus Capital LLC Increases Holdings in Procter & Gamble Co (PG)
Marcus Capital LLC grew its position in Procter & Gamble Co (NYSE:PG) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,950 shares of the company’s stock after acquiring an additional 775 shares during the quarter. Procter & Gamble accounts for about 2.7% of Marcus Capital LLC’s holdings, making the stock its 13th largest position. Marcus Capital LLC’s holdings in Procter & Gamble were worth $855,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in shares of Procter & Gamble by 63.1% in the 1st quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock worth $883,964,000 after buying an additional 4,315,180 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Procter & Gamble by 1.9% in the 1st quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock worth $12,890,867,000 after buying an additional 2,961,408 shares in the last quarter. C WorldWide Group Holding A S acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $113,258,000. Unigestion Holding SA acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $112,171,000. Finally, Schroder Investment Management Group raised its holdings in shares of Procter & Gamble by 31.6% in the 1st quarter. Schroder Investment Management Group now owns 4,928,265 shares of the company’s stock worth $390,712,000 after buying an additional 1,184,004 shares in the last quarter. Institutional investors own 58.54% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine raised Procter & Gamble from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Citigroup increased their target price on Procter & Gamble from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, October 22nd. UBS Group increased their target price on Procter & Gamble from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, October 22nd. SunTrust Banks increased their target price on Procter & Gamble to $85.00 and gave the stock a “hold” rating in a report on Monday, October 22nd. Finally, Wells Fargo & Co increased their target price on Procter & Gamble from $78.00 to $84.00 and gave the stock a “market perform” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $88.38.
PG stock opened at $92.41 on Friday. Procter & Gamble Co has a fifty-two week low of $70.73 and a fifty-two week high of $93.14. The firm has a market cap of $230.14 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.40.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 19th. The company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. Procter & Gamble had a return on equity of 21.20% and a net margin of 15.10%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.45 billion. During the same period last year, the firm posted $1.09 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Procter & Gamble Co will post 4.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be issued a dividend of $0.7172 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a yield of 3.10%. Procter & Gamble’s dividend payout ratio is 68.01%.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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