Procter & Gamble Co (NYSE:PG) Shares Acquired by 1832 Asset Management L.P.
1832 Asset Management L.P. grew its stake in Procter & Gamble Co (NYSE:PG) by 35,929.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,116 shares of the company’s stock after buying an additional 143,716 shares during the period. 1832 Asset Management L.P.’s holdings in Procter & Gamble were worth $16,685,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PG. New England Investment & Retirement Group Inc. acquired a new stake in Procter & Gamble during the 1st quarter worth $28,000. Magellan Asset Management Ltd acquired a new stake in shares of Procter & Gamble in the 1st quarter worth $29,000. Efficient Wealth Management LLC acquired a new stake in shares of Procter & Gamble in the 1st quarter worth $39,000. grace capital acquired a new stake in shares of Procter & Gamble in the 4th quarter worth $44,000. Finally, Cox Capital Mgt LLC acquired a new stake in shares of Procter & Gamble in the 1st quarter worth $46,000. Institutional investors and hedge funds own 63.44% of the company’s stock.
Several analysts have recently commented on PG shares. Argus upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Thursday, March 26th. Morgan Stanley raised their target price on shares of Procter & Gamble from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Bank of America reiterated a “buy” rating and issued a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. Stifel Nicolaus increased their price target on shares of Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a report on Tuesday, April 14th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $130.31.
Procter & Gamble (NYSE:PG) last released its earnings results on Friday, April 17th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.04. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The business had revenue of $17.21 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same period last year, the company earned $1.06 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Procter & Gamble Co will post 4.96 earnings per share for the current fiscal year.
In other Procter & Gamble news, CEO David S. Taylor sold 30,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $115.47, for a total transaction of $3,464,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jon R. Moeller sold 130,626 shares of Procter & Gamble stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $116.37, for a total transaction of $15,200,947.62. The disclosure for this sale can be found here. Insiders sold 8,963,114 shares of company stock worth $1,067,197,986 over the last three months. Corporate insiders own 1.75% of the company’s stock.
Procter & Gamble Profile
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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