Davis Capital Management Sells 258 Shares of The Procter & Gamble Company (NYSE:PG)

Davis Capital Management decreased its position in The Procter & Gamble Company (NYSE:PG) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,037 shares of the company’s stock after selling 258 shares during the quarter. Davis Capital Management’s holdings in Procter & Gamble were worth $1,130,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter worth approximately $3,956,117,000. Cerity Partners LLC boosted its position in Procter & Gamble by 106.2% during the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares during the period. Wellington Management Group LLP boosted its position in Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. International Assets Investment Management LLC boosted its position in Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Procter & Gamble by 235.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after purchasing an additional 2,268,805 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $168.56 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $164.09 and a 200 day simple moving average of $157.83. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $168.97. The firm has a market capitalization of $397.83 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.42 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and upped their price target for the stock from $160.00 to $175.00 in a report on Monday, March 11th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group upped their price target on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. The Goldman Sachs Group assumed coverage on Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 price target for the company. Finally, Argus upped their price target on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.76.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the transaction, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the sale, the insider now owns 11,507 shares in the company, valued at $1,858,265.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders sold 154,544 shares of company stock worth $25,413,051 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Company Profile

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.