Summit Asset Management LLC lifted its position in Procter & Gamble Co (NYSE:PG) by 11.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,220 shares of the company’s stock after purchasing an additional 2,635 shares during the period. Procter & Gamble accounts for about 1.0% of Summit Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Summit Asset Management LLC’s holdings in Procter & Gamble were worth $1,999,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Procter & Gamble by 0.5% during the fourth quarter. BlackRock Inc. now owns 159,637,818 shares of the company’s stock worth $14,667,526,000 after buying an additional 793,096 shares during the period. Geode Capital Management LLC lifted its holdings in Procter & Gamble by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 27,189,341 shares of the company’s stock worth $2,492,983,000 after buying an additional 882,109 shares during the period. American Century Companies Inc. lifted its holdings in Procter & Gamble by 17.9% during the first quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock worth $1,103,790,000 after buying an additional 2,115,777 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Procter & Gamble by 9.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 12,850,490 shares of the company’s stock worth $1,180,687,000 after buying an additional 1,064,665 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Procter & Gamble by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 9,149,634 shares of the company’s stock worth $840,668,000 after buying an additional 269,402 shares during the period. Hedge funds and other institutional investors own 59.39% of the company’s stock.
Get Procter & Gamble alerts:Shares of PG opened at $77.86 on Tuesday. Procter & Gamble Co has a 12 month low of $70.73 and a 12 month high of $94.67. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 0.42. The firm has a market cap of $199.94 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.58.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Procter & Gamble had a return on equity of 20.72% and a net margin of 15.17%. The firm had revenue of $16.28 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. analysts forecast that Procter & Gamble Co will post 4.19 earnings per share for the current year.
In related news, insider Steven D. Bishop sold 2,075 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $71.87, for a total value of $149,130.25. Following the transaction, the insider now directly owns 42,524 shares of the company’s stock, valued at approximately $3,056,199.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary A. Coombe sold 1,529 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $74.25, for a total value of $113,528.25. Following the completion of the transaction, the insider now directly owns 5,235 shares in the company, valued at $388,698.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,938 shares of company stock valued at $1,604,483. Company insiders own 0.35% of the company’s stock.
A number of analysts have weighed in on PG shares. Barclays set a $84.00 target price on Procter & Gamble and gave the stock a “hold” rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Tuesday, March 27th. Morgan Stanley lowered their target price on Procter & Gamble from $92.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, April 5th. Bank of America lowered their target price on Procter & Gamble from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 12th. Finally, Stifel Nicolaus lowered their target price on Procter & Gamble from $85.00 to $83.00 and set a “hold” rating for the company in a report on Wednesday, April 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $88.21.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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