Coastwise Capital Group LLC Raises Holdings in The Procter & Gamble Company (NYSE:PG)

Coastwise Capital Group LLC lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,250 shares of the company’s stock after buying an additional 638 shares during the quarter. Coastwise Capital Group LLC’s holdings in Procter & Gamble were worth $909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in Procter & Gamble by 2.1% in the third quarter. Ascent Group LLC now owns 62,207 shares of the company’s stock valued at $10,774,000 after buying an additional 1,287 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Procter & Gamble by 1,730.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 162,254 shares of the company’s stock worth $28,109,000 after acquiring an additional 153,391 shares during the period. Atom Investors LP raised its holdings in Procter & Gamble by 56.8% during the third quarter. Atom Investors LP now owns 23,117 shares of the company’s stock worth $4,004,000 after purchasing an additional 8,375 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Procter & Gamble during the third quarter worth $659,000. Finally, B&L Asset Management LLC purchased a new position in shares of Procter & Gamble in the third quarter valued at $4,299,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

PG has been the topic of several recent research reports. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Evercore ISI lifted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley lifted their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $180.45.

Insider Buying and Selling at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,233 shares of company stock valued at $6,024,234 over the last three months. 0.18% of the stock is owned by company insiders.

Procter & Gamble Price Performance

PG stock opened at $179.26 on Monday. The company has a market cap of $422.16 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 3.86 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $170.48 and a two-hundred day moving average price of $169.11. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.25%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.