Mach 1 Financial Group LLC Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Mach 1 Financial Group LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,912 shares of the company’s stock after purchasing an additional 97 shares during the period. Mach 1 Financial Group LLC’s holdings in Procter & Gamble were worth $504,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble in the 2nd quarter valued at $29,000. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter valued at $34,000. Quest Partners LLC bought a new position in shares of Procter & Gamble in the second quarter worth $36,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Procter & Gamble in the second quarter worth $44,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 2.6 %

PG opened at $167.71 on Friday. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The business has a 50 day simple moving average of $171.08 and a two-hundred day simple moving average of $168.15. The firm has a market capitalization of $394.96 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.48 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. Analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PG. Evercore ISI boosted their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Nine investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Insider Buying and Selling

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Balaji Purushothaman sold 12,800 shares of the business’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 sale, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,597 shares of company stock valued at $53,268,499 over the last three months. Corporate 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.