Y.D. More Investments Ltd has raised its investment in Procter & Gamble Company (NYSE: PG) by 4.4% during the second quarter of 2023. According to the latest 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns a total of 15,040 shares, having purchased an additional 632 shares during the quarter. As of the end of the period, these holdings were valued at approximately $2,395,000.
Several other institutional investors have also adjusted their positions in Procter & Gamble recently. Private Management Group Inc. increased its stake by 4.8% in the first quarter, now holding 1,384 shares worth $236,000 after acquiring 64 additional shares. Lantz Financial LLC expanded its holdings by 1.2% in the second quarter, bringing its total to 5,237 shares valued at $834,000. Orca Investment Management LLC raised its position by 2.0% during the same period, now owning 3,238 shares worth $516,000. Kondo Wealth Advisors Inc. and Silver Oak Securities Incorporated also made similar adjustments, further demonstrating the confidence institutional investors have in the company.
Recent Insider Transactions
In a notable development, Procter & Gamble’s Chief Financial Officer, Andre Schulten, sold 11,638 shares of the company on August 19, 2023, at an average price of $157.27. This transaction totaled approximately $1,830,308.26, reducing his ownership to 52,642 shares, valued at about $8,279,007.34. This sale marks an 18.11% decrease in his position.
Similarly, CEO Jon R. Moeller sold 40,119 shares on the same day, generating a total transaction value of around $6,309,515.13. Post-transaction, he owns 319,375 shares valued at $50,228,106.25, reflecting an 11.16% decrease in his holdings. Over the last quarter, insiders have sold a total of 150,489 shares worth $23,529,864, with corporate insiders currently holding just 0.20% of the company’s stock.
Financial Performance and Analyst Ratings
Procter & Gamble announced its latest earnings results on October 24, 2023, revealing earnings per share of $1.99 for the quarter, surpassing analysts’ expectations of $1.90 by $0.09. The company reported revenues of $22.39 billion, exceeding the consensus estimate of $22.23 billion. Procter & Gamble achieved a net margin of 19.74% and a return on equity of 32.63%, with quarterly revenue increasing by 3.0% compared to the same quarter in the previous year. The company anticipates earnings per share between $6.830 and $7.100 for fiscal year 2026, with analysts forecasting an average of $6.91 for the current year.
Additionally, Procter & Gamble recently declared a quarterly dividend of $1.0568 per share, set to be paid on November 17, 2023, to shareholders of record on October 24. This dividend represents an annualized yield of 2.9%, with a payout ratio of 61.61%.
Financial analysts have recently reassessed their ratings and price targets for Procter & Gamble. Bank of America downgraded its price target from $180.00 to $174.00, maintaining a “buy” rating. Other firms, such as Berenberg Bank and BNP Paribas Exane, have adjusted their targets, reflecting varied opinions on the stock’s future performance. Currently, twelve analysts rate Procter & Gamble as a “buy,” while nine provide a “hold” rating, indicating a consensus of a “Moderate Buy” with an average price target of $171.53, according to MarketBeat.com.
Procter & Gamble continues to demonstrate resilience in the consumer goods sector, driven by strong institutional investment and positive financial performance, positioning itself well for future growth.
