Bank of Nova Scotia Grows Stock Position in Procter & Gamble Company (The) $PG

Bank of Nova Scotia raised its holdings in Procter & Gamble Company (The) (NYSE:PG) by 23.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,114,869 shares of the company’s stock after buying an additional 212,652 shares during the quarter. Bank of Nova Scotia’s holdings in Procter & Gamble were worth $171,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Procter & Gamble in the third quarter worth approximately $25,000. Corundum Trust Company INC acquired a new position in Procter & Gamble during the third quarter worth approximately $32,000. Caitlin John LLC purchased a new position in Procter & Gamble during the third quarter worth approximately $34,000. Marquette Asset Management LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler began coverage on Procter & Gamble in a report on Wednesday, January 7th. They set a “neutral” rating and a $150.00 price objective for the company. Dbs Bank raised Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company restated an “overweight” rating and set a $177.00 price target on shares of Procter & Gamble in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c)” rating on shares of Procter & Gamble in a report on Monday, December 29th. Finally, BNP Paribas Exane reduced their price objective on Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, January 16th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $168.33.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, Chairman Jon R. Moeller sold 162,232 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.45, for a total value of $26,354,588.40. Following the transaction, the chairman owned 319,385 shares in the company, valued at $51,884,093.25. The trade was a 33.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 36,093 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the completion of the transaction, the chief executive officer directly owned 34,994 shares of the company’s stock, valued at approximately $5,680,576.02. The trade was a 50.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 348,618 shares of company stock valued at $55,462,643. 0.20% of the stock is owned by company insiders.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $150.57 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $174.80. The company has a market capitalization of $349.91 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 5.04 and a beta of 0.37. The business has a 50-day moving average of $153.32 and a 200-day moving average of $151.00.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, January 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The business had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. On average, equities analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, January 23rd. Procter & Gamble’s payout ratio is presently 62.67%.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.