The Procter & Gamble Company (NYSE:PG) Stake Increased by Corundum Group Inc.

Corundum Group Inc. increased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 43.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,576 shares of the company’s stock after purchasing an additional 3,181 shares during the quarter. Corundum Group Inc.’s holdings in Procter & Gamble were worth $1,773,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FLC Capital Advisors increased its stake in Procter & Gamble by 1.9% in the 4th quarter. FLC Capital Advisors now owns 4,453 shares of the company’s stock valued at $747,000 after buying an additional 84 shares during the period. McCarthy & Cox grew its holdings in shares of Procter & Gamble by 9.6% during the 4th quarter. McCarthy & Cox now owns 1,398 shares of the company’s stock valued at $234,000 after acquiring an additional 122 shares in the last quarter. Maltin Wealth Management Inc. increased its stake in shares of Procter & Gamble by 5.9% in the fourth quarter. Maltin Wealth Management Inc. now owns 1,269 shares of the company’s stock worth $213,000 after acquiring an additional 71 shares during the last quarter. Bridgewater Advisors Inc. boosted its position in Procter & Gamble by 2.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 18,963 shares of the company’s stock valued at $3,029,000 after purchasing an additional 479 shares during the last quarter. Finally, True Link Financial Advisors LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $278,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PG has been the subject of a number of recent research reports. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley boosted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company cut their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.65.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm’s 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 completion of the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,447 shares of company stock worth $12,978,820 over the last quarter. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $161.35 on Tuesday. The business’s 50 day moving average is $169.19 and its 200-day moving average is $169.46. 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 firm has a market capitalization of $379.98 billion, a PE ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly 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. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. Sell-side analysts predict that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.