OLD National Bancorp IN increased its position in shares of Procter & Gamble Co (NYSE:PG) by 30.2% during the fourth quarter, Holdings Channel reports. The fund owned 172,147 shares of the company’s stock after acquiring an additional 39,899 shares during the quarter. Procter & Gamble makes up approximately 0.9% of OLD National Bancorp IN’s investment portfolio, making the stock its 25th biggest position. OLD National Bancorp IN’s holdings in Procter & Gamble were worth $15,824,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Intercontinental Wealth Advisors LLC purchased a new position in Procter & Gamble during the fourth quarter worth approximately $62,000. Ruggie Capital Group raised its stake in Procter & Gamble by 691.3% during the fourth quarter. Ruggie Capital Group now owns 823 shares of the company’s stock worth $76,000 after purchasing an additional 719 shares during the period. Eukles Asset Management purchased a new position in Procter & Gamble during the fourth quarter worth approximately $80,000. Tributary Capital Management LLC purchased a new position in Procter & Gamble during the fourth quarter worth approximately $91,000. Finally, Mackey Komara & Dankovich LLC purchased a new position in Procter & Gamble during the fourth quarter worth approximately $94,000. Hedge funds and other institutional investors own 61.49% of the company’s stock.
A number of research firms have weighed in on PG. Credit Suisse Group set a $100.00 price target on shares of Procter & Gamble and gave the stock a “hold” rating in a research note on Friday, May 10th. Deutsche Bank increased their price target on shares of Procter & Gamble from $100.00 to $106.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Wells Fargo & Co raised shares of Procter & Gamble from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $78.00 to $115.00 in a research note on Monday, April 8th. Morgan Stanley set a $111.00 price target on shares of Procter & Gamble and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Procter & Gamble presently has an average rating of “Hold” and an average price target of $101.42.
Shares of PG stock opened at $107.33 on Tuesday. Procter & Gamble Co has a 52 week low of $72.80 and a 52 week high of $108.68. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $270.88 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 3.46 and a beta of 0.39.
Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, April 23rd. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The business had revenue of $16.46 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Procter & Gamble Co will post 4.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a $0.7459 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Wednesday, April 17th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s dividend payout ratio (DPR) is currently 70.62%.
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Procter & Gamble Company 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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