The Procter & Gamble Company (NYSE:PG) Shares Sold by Spinnaker Investment Group LLC

02 Apr 2024, 17:25 by Tristan Rich · The Markets Daily

Spinnaker Investment Group LLC reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,479 shares of the company’s stock after selling 98 shares during the quarter. Procter & Gamble makes up 0.4% of Spinnaker Investment Group LLC’s investment portfolio, making the stock its 26th biggest holding. Spinnaker Investment Group LLC’s holdings in Procter & Gamble were worth $1,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Axiom Financial Strategies LLC lifted its holdings in shares of Procter & Gamble by 7.0% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after purchasing an additional 113 shares during the last quarter. AMI Investment Management Inc. raised its stake in Procter & Gamble by 7.2% during the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock valued at $529,000 after acquiring an additional 233 shares during the last quarter. LSV Asset Management raised its stake in Procter & Gamble by 5.7% during the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after acquiring an additional 1,000 shares during the last quarter. Ergoteles LLC purchased a new stake in Procter & Gamble during the 1st quarter valued at approximately $3,073,000. Finally, Wsfs Capital Management LLC raised its stake in Procter & Gamble by 12.0% during the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after acquiring an additional 455 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PG. The Goldman Sachs Group began coverage on Procter & Gamble in a research note on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective for the company. Stifel Nicolaus upped their price objective on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a research note on Thursday, January 18th. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and increased their target price for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.41.

View Our Latest Stock Analysis on PG

Insider Buying and Selling at Procter & Gamble

In other news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the sale, the insider now directly owns 163,428 shares in the company, valued at $25,097,637.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ma. Fatima Francisco sold 74,443 shares of Procter & Gamble stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $153.30, for a total value of $11,412,111.90. Following the completion of the transaction, the chief executive officer now directly owns 973 shares in the company, valued at $149,160.90. 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 101,704 shares of Procter & Gamble stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the transaction, the insider now owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The disclosure for this sale can be found here. Insiders have sold 279,063 shares of company stock valued at $43,187,745 over the last three months. 0.17% of the stock is owned by company insiders.

Procter & Gamble Trading Down 0.2 %

Shares of PG stock traded down $0.26 during mid-day trading on Tuesday, hitting $160.32. 461,304 shares of the company’s stock were exchanged, compared to its average volume of 6,791,215. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The stock has a market cap of $377.24 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.31 and a beta of 0.44. The stock has a 50-day simple moving average of $159.25 and a two-hundred day simple moving average of $152.32. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $163.14.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.14. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.48 billion. During the same period last year, the company posted $1.59 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts expect that The Procter & Gamble Company will post 6.45 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, January 19th were given a $0.9407 dividend. This represents a $3.76 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.98%.

Procter & Gamble Company Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.