BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells Shares of Procter & Gamble

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has reduced its stake in The Procter & Gamble Company (NYSE:PG) by 12.6% during the third quarter, as per a recent filing with the Securities and Exchange Commission (SEC). After selling 56,862 shares throughout the quarter, the firm now holds 393,834 shares of the company. At the end of the last reporting period, these shares were valued at approximately $68,212,000.

Other institutional investors and hedge funds have also made moves regarding their investments in Procter & Gamble. For example, International Assets Investment Management LLC dramatically increased its stake in the company by 19,030.8% during the third quarter, now owning 3,693,593 shares valued at $639,730,000 after adding 3,674,286 shares. Additionally, Wulff Hansen & CO. raised its investment by 16,292.0% in the second quarter, acquiring another 3,653,477 shares to reach a total of 3,675,902 shares valued at $606,230,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake valued at $301,950,000 during the third quarter. AMF Tjanstepension AB increased its holdings by 416.1%, acquiring an additional 1,466,115 shares to own 1,818,490 shares worth $315,016,000. Lastly, Icon Wealth Advisors LLC expanded its position by 4,621.9%, adding 1,258,690 shares to hold a total of 1,285,923 shares valued at $222,722,000. Collectively, institutional investors and hedge funds own 65.77% of the stock.

Insider Transactions

In other news regarding Procter & Gamble, CEO Jon R. Moeller sold 7,007 shares on October 2nd at an average price of $171.65, amounting to a total of $1,202,751.55. After this transaction, he holds 269,172 shares valued at $46,203,373.80, reflecting a decrease of 2.54% in his position. This transaction was reported in a filing with the SEC. Furthermore, insider Balaji Purushothaman sold 12,800 shares on October 24th at an average price of $168.99, totaling $2,163,072.00. After this sale, he now directly owns 11,566 shares valued at $1,954,538.34, representing a significant decrease of 52.53% in his ownership. In just the last 90 days, insiders have sold a total of 35,233 shares worth $6,024,234. Overall, corporate insiders own 0.18% of the stock.

Analyst Ratings

The stock, PG, has been the subject of various analyst reports recently. For instance, Wells Fargo & Company raised their price target on Procter & Gamble shares from $188.00 to $190.00, rating it as "overweight" in a research note. Similarly, JPMorgan Chase & Co. increased their price target from $179.00 to $186.00, also giving the company an "overweight" rating. Evercore ISI raised their price objective from $180.00 to $183.00, assigning an "outperform" rating. HSBC Global Research upgraded the stock to a "strong-buy" rating. On the other hand, Royal Bank of Canada reiterated a "sector perform" rating with a target price of $164.00. Among analysts, there are eight who have rated the stock as a hold, fourteen as a buy, and two as a strong buy. The consensus rating is a "Moderate Buy" with an average target price of $180.45.

Current Stock Performance

The stock of Procter & Gamble opened at $179.37 recently, boasting a market capitalization of $422.42 billion. The company maintains a price-to-earnings (P/E) ratio of 30.93 and a price-to-earnings-growth (PEG) ratio of 3.86, along with a beta of 0.42. The stock's average moving prices over the past 50 days is $170.48 and for 200 days is $169.07. Its debt-to-equity ratio stands at 0.50, the quick ratio is 0.55, and the current ratio is 0.75. Over the past year, Procter & Gamble has reached a low of $142.50 and a high of $180.43.

Recent Financial Reports

On October 18th, Procter & Gamble released its quarterly earnings report, revealing earnings per share of $1.93 for the quarter, slightly surpassing analysts' expectations of $1.90 by $0.03. The company recorded a net margin of 17.07% and a return on equity of 33.25%. Its total revenue for the quarter was $21.74 billion, which was slightly under the projected $21.99 billion. Compared to the same quarter last year, earnings per share improved from $1.83, although revenue saw a minor decline of 0.6% year-over-year. Analysts predict that Procter & Gamble will achieve an EPS of 6.97 for the current fiscal year.

Dividend Announcement

Moreover, Procter & Gamble has recently declared a quarterly dividend which was paid on November 15th. Shareholders of record as of October 18th received a dividend payout of $1.0065. The ex-dividend date also fell on October 18th. This suggests an annualized dividend amount of $4.03, yielding a dividend yield of 2.24%. Currently, the company's dividend payout ratio is at 69.31%.

About Procter & Gamble

The Procter & Gamble Company specializes in providing branded consumer products globally. Its operations are categorized into five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. Within the Beauty segment, it offers a variety of products including conditioners, shampoos, and skincare items under brands such as Head & Shoulders, Herbal Essences, Olay, and Old Spice.

shares, investors, stocks