Universal Beteiligungs und Servicegesellschaft mbH has decreased its ownership in Procter & Gamble Company (NYSE: PG) by 0.5% during the third quarter of 2023, according to its latest filing with the Securities and Exchange Commission. The firm now holds 1,847,162 shares after selling 8,399 shares in this period, making Procter & Gamble approximately 0.5% of its investment portfolio. This positions Procter & Gamble as the 29th largest holding in Universal Beteiligungs’ portfolio, valued at around $283.8 million as of the recent filing.
In addition to Universal Beteiligungs, other institutional investors have also adjusted their stakes in Procter & Gamble. Halbert Hargrove Global Advisors LLC acquired a new position worth $25,000 in the third quarter, while Signature Resources Capital Management LLC increased its holdings by 67.9% during the second quarter. Following the purchase of 72 additional shares, Signature now owns 178 shares valued at approximately $28,000. Other notable transactions include Corundum Trust Company INC and Mid American Wealth Advisory Group, which purchased new stakes valued at around $32,000 and $34,000, respectively.
Hedge funds and institutional investors collectively own 65.77% of Procter & Gamble’s stock, highlighting the significant interest in the consumer goods giant.
Analyst Ratings and Market Performance
Procter & Gamble has seen various updates from analysts recently. Weiss Ratings reaffirmed a “hold (c)” rating on December 29, while Piper Sandler initiated coverage on January 7 with a “neutral” rating and a target price of $150.00. Additionally, BNP Paribas Exane adjusted their price target from $172.00 to $164.00, maintaining an “outperform” rating.
The company’s stock opened at $146.96 on Wednesday, reflecting a 1.7% increase. Over the past year, Procter & Gamble shares have fluctuated, with a low of $137.62 and a high of $179.99. The company boasts a market capitalization of $343.4 billion, a P/E ratio of 21.45, and a beta of 0.39.
Procter & Gamble reported its quarterly earnings on October 24, 2023, announcing earnings per share of $1.99, surpassing analysts’ expectations of $1.90 by $0.09. The company achieved a net margin of 19.74% and a return on equity of 32.63%. Revenue for the quarter reached $22.39 billion, exceeding the consensus estimate of $22.23 billion and marking a 3.0% increase from the previous year.
Dividends and Insider Activity
In its drive to provide shareholder returns, Procter & Gamble declared a quarterly dividend to be paid on February 17, 2024. Shareholders of record on January 23 will receive a dividend of $1.0568, which translates to an annualized dividend of $4.23 and a yield of 2.9%. The company maintains a dividend payout ratio of 61.75%.
On the insider front, Chief Accounting Officer Matthew W. Janzaruk sold 725 shares on October 30 at an average price of $149.57, totaling approximately $108,438. Following this transaction, Janzaruk holds 979 shares valued at around $146,429, indicating a 42.55% decrease in his position. Currently, corporate insiders own 0.20% of Procter & Gamble’s stock.
As a leading multinational consumer goods company headquartered in Cincinnati, Ohio, Procter & Gamble was founded in 1837 by William Procter and James Gamble. The company specializes in a wide range of household and personal care products, serving consumers and retailers globally. Its product categories include Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
