The Procter & Gamble Company (NYSE:PG) Stock Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 5.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 446,176 shares of the company’s stock after purchasing an additional 23,169 shares during the period. CIBC Asset Management Inc’s holdings in Procter & Gamble were worth $77,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PG. Legal & General Group Plc boosted its holdings in shares of Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares in the last quarter. Janus Henderson Group PLC grew its position in Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after purchasing an additional 79,665 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Procter & Gamble by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,716,799 shares of the company’s stock valued at $990,150,000 after purchasing an additional 72,851 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Procter & Gamble by 3.9% in the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after purchasing an additional 216,300 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

PG has been the topic of a number of research analyst reports. DA Davidson lifted their price target on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. TD Cowen started coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Finally, 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 target price for the company. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.00.

Insider Transactions 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 stock was 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 $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by insiders.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $167.08 on Friday. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The firm has a market cap of $393.48 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. The firm’s 50-day simple moving average is $170.61 and its 200-day simple moving average is $168.28.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 EPS. As a group, research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. Procter & Gamble’s payout ratio is presently 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.