SouthState Corp Grows Stake in The Procter & Gamble Company (NYSE:PG)

SouthState Corp boosted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,995 shares of the company’s stock after purchasing an additional 289 shares during the period. SouthState Corp’s holdings in Procter & Gamble were worth $13,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PG. International Assets Investment Management LLC lifted its position in Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after purchasing an additional 3,674,286 shares in the last quarter. Wulff Hansen & CO. lifted its position in Procter & Gamble by 16,292.0% during the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after purchasing an additional 3,653,477 shares in the last quarter. AMF Tjanstepension AB lifted its position in Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after purchasing an additional 1,466,115 shares in the last quarter. Swedbank AB purchased a new position in Procter & Gamble during the first quarter valued at $233,788,000. Finally, Ilex Capital Partners UK LLP purchased a new position in Procter & Gamble during the first quarter valued at $228,212,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 0.7 %

Shares of NYSE:PG opened at $170.80 on Tuesday. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The business has a 50 day simple moving average of $170.21 and a two-hundred day simple moving average of $168.45. The firm has a market capitalization of $402.24 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.36%. Procter & Gamble’s payout ratio is 69.48%.

Analysts Set New Price Targets

Several brokerages have recently commented on PG. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity at Procter & Gamble

In related news, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. The trade was a 25.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,727 shares of company stock worth $46,014,037. Company insiders own 0.18% of the company’s stock.

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.