Stocks

1ST Source Bank Increases Stake in Procter & Gamble

Published December 13, 2024

1ST Source Bank has raised its investment in The Procter & Gamble Company (NYSE:PG) by 10.4% during the third quarter, as disclosed in their latest report to the SEC. The bank now holds 55,872 shares of Procter & Gamble after acquiring an additional 5,255 shares in the past quarter. This investment makes up 0.5% of 1ST Source Bank's total holdings and positions Procter & Gamble as the bank's 27th largest investment, valued at approximately $9.68 million.

Procter & Gamble Alerts:

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In addition to 1ST Source Bank, various other institutional investors and hedge funds have also adjusted their holdings in Procter & Gamble. For instance, Acorn Creek Capital LLC increased its stake by 2.8%, now owning 2,170 shares worth $376,000 after adding 59 shares in the last quarter. Similarly, Patrick M. Sweeney & Associates Inc. boosted their position by 1.1%, now holding 5,561 shares valued at $963,000 after acquiring 59 additional shares during the same period.

Hudson Value Partners LLC raised its holdings in Procter & Gamble by 4.1%, owning 1,516 shares worth $250,000 after purchasing 60 more shares last quarter. Traveka Wealth LLC also increased its investment by 1.7%, owning 3,554 shares valued at $616,000 after buying 60 additional shares. Allen Mooney & Barnes Investment Advisors LLC saw a 0.7% increase in its stake, now holding 8,699 shares valued at $1.51 million after acquiring 61 new shares. Currently, 65.77% of Procter & Gamble's shares are held by institutional investors and hedge funds.

Analyst Predictions for Growth

Research analysts have recently made some optimistic projections regarding Procter & Gamble. For instance, Evercore ISI raised their price target for the company from $180.00 to $183.00 while assigning an "outperform" rating in their report on October 21st. Royal Bank of Canada maintained a "sector perform" rating, setting a price target of $164.00, also on October 21st.

Piper Sandler initiated coverage on Procter & Gamble on September 24th, issuing a "neutral" rating and a target price of $174.00. Barclays downgraded the company's shares from an "overweight" rating to "equal weight," with a price target of $163.00 reported on September 30th. Conversely, DZ Bank upgraded Procter & Gamble from a "hold" to a "buy" rating, projecting a price target of $190.00 in their note on August 29th. Overall, eight analysts gave a hold rating, fourteen deemed it a buy, and two analysts assigned it a strong buy rating. Procter & Gamble currently holds a consensus rating of "Moderate Buy" with an average target price of $180.45 according to MarketBeat data.

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Executives Selling Shares

In related news, CEO Jon R. Moeller sold 7,007 shares of Procter & Gamble on October 2nd for an average price of $171.65, totaling approximately $1.20 million. After this transaction, Moeller now possesses 269,172 shares valued at about $46 million, which represents a 2.54% reduction in his ownership stake. This sale was disclosed to the SEC and is publicly available via their website.

Additionally, insider Balaji Purushothaman sold 12,800 shares on October 24th at an average of $168.99, amounting to around $2.16 million. Post-sale, Purushothaman retains 11,566 shares worth about $1.95 million, marking a 52.53% decrease in his holding. Over the past 90 days, insiders have sold a total of 83,080 shares valued at approximately $14.63 million, with corporate insiders owning about 0.18% of the stock.

Procter & Gamble Stock Performance

On a recent trading day, Procter & Gamble shares fell by $0.02, closing at $170.83. The trading volume was 753,064 shares, significantly lower than the average volume of 6,673,486 shares. The company's fifty-day moving average is $170.69, while the two-hundred day average is $169.51. Procter & Gamble's one-year trading range has been between a low of $142.50 and a high of $180.43. Key financial metrics include a current ratio of 0.75, a quick ratio of 0.55, and a debt-to-equity ratio of 0.50, with a market capitalization of $402.31 billion. The company exhibits a price-earnings (PE) ratio of 29.46 and a price-earnings-growth (PEG) ratio of 3.69, coupled with a beta of 0.44.

Procter & Gamble recently reported its quarterly earnings on October 18th, revealing earnings per share (EPS) of $1.93, 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%. Quarterly revenue came in at $21.74 billion, just below the consensus estimate of $21.99 billion. The revenue also represented a 0.6% decline compared to the same quarter last year.

Dividend Overview

The firm has recently announced a quarterly dividend that was paid on November 15th. Shareholders of record on October 18th received a dividend of $1.0065, which translates to an annualized dividend of $4.03, reflecting a yield of 2.36%. The ex-dividend date was also on October 18th. The dividend payout ratio for Procter & Gamble stands at 69.48%.

Company Overview

The Procter & Gamble Company specializes in providing branded consumer packaged goods globally. It operates through various segments, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. Their beauty segment offers a variety of products consisting of shampoos, conditioners, styling aids, and other personal care items under renowned brands like Head & Shoulders, Herbal Essences, and Olay.

Is Procter & Gamble a Good Investment Right Now?

Before making any investment decisions regarding Procter & Gamble, it is important to consider different opinions from knowledgeable analysts. Even though the stock holds a "Moderate Buy" rating, some top analysts have identified other stocks as having higher investment potential.

Explore the top recommendations from analysts to find out which stocks might be worth your investment.

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