Rodgers & Associates Increases Stake in Procter & Gamble by 32.7%

Rodgers & Associates LTD has increased its investment in Procter & Gamble Company (NYSE: PG) by 32.7% during the second quarter of 2023. According to a report from Holdings Channel, the firm now owns a total of 1,667 shares of Procter & Gamble following the acquisition of an additional 411 shares. As of the most recent filing with the Securities and Exchange Commission, these holdings are valued at approximately $266,000.

Several other institutional investors have also adjusted their positions in Procter & Gamble recently. MOKAN Wealth Management Inc. increased its stake by 13.7% in the second quarter, bringing its total to 15,319 shares valued at $2,442,000. Meanwhile, Benjamin Edwards Inc. significantly boosted its holdings by 120.7% in the first quarter, now owning 364,378 shares worth $62,098,000. Capital Investment Advisory Services LLC and World Investment Advisors also raised their positions by 13.8% and 6.0% respectively during the same period. Notably, 65.77% of Procter & Gamble’s stock is held by institutional investors.

Stock Performance and Financial Overview

On Friday, Procter & Gamble shares opened at $151.53, reflecting a 1.3% increase. The company currently boasts a market capitalization of $354.66 billion, with a price-to-earnings (P/E) ratio of 23.28 and a beta of 0.36. Over the past year, the stock has fluctuated between a low of $146.96 and a high of $180.43. The company’s financial metrics also include a debt-to-equity ratio of 0.49, a quick ratio of 0.49, and a current ratio of 0.70.

Procter & Gamble has also announced a quarterly dividend of $1.0568 per share, set to be paid on November 17, 2023. Shareholders on record as of October 24, 2023 will be eligible for this dividend, which translates to an annualized payout of $4.23 and a dividend yield of 2.8%. The company’s dividend payout ratio currently stands at 64.82%.

Insider Transactions and Analyst Ratings

Recent insider transactions have also drawn attention. On August 19, 2023, Chief Financial Officer Andre Schulten sold 11,638 shares at an average price of $157.27, totaling approximately $1,830,308.26. Following this sale, Schulten retains 52,642 shares valued at around $8,279,007.34. Additionally, insider Marc S. Pritchard sold 9,849 shares on the same day for a total of $1,548,952.23.

In the last three months, insiders have sold a total of 149,763 shares valued at $23,421,279. Currently, insiders own 0.20% of Procter & Gamble’s stock.

Analysts have mixed views on the stock. BNP Paribas Exane recently lowered its price target from $177.00 to $172.00 while maintaining an “outperform” rating. Other firms, such as Barclays and Bank of America, have also adjusted their price targets, reflecting a cautious outlook. Overall, Procter & Gamble has received an average rating of “Moderate Buy” with an average price target of $172.21, according to data from MarketBeat.

Procter & Gamble continues to operate across multiple segments, including Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine, and Family Care, providing a diverse range of consumer packaged goods. As the company navigates market fluctuations, its strong institutional backing and consistent dividend payments signal confidence in its long-term performance.