Peapack Gladstone Financial Corp Has $50.57 Million Position in The Procter & Gamble Company (NYSE:PG)

Peapack Gladstone Financial Corp reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,648 shares of the company’s stock after selling 2,757 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Procter & Gamble were worth $50,570,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter worth $5,244,463,000. Raymond James Financial Inc. bought a new stake in Procter & Gamble during the fourth quarter worth about $1,010,685,000. Geode Capital Management LLC raised its position in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Down 5.0 %

NYSE:PG opened at $163.73 on Friday. The stock has a 50-day simple moving average of $169.17 and a 200 day simple moving average of $169.15. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market cap of $383.92 billion, a PE ratio of 26.07, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PG. Piper Sandler decreased their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Truist Financial raised their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $182.00.

Procter & Gamble 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.