BCS Wealth Management has significantly reduced its stake in the Procter & Gamble Company (NYSE: PG) by 89.3% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). This decision left the firm with 10,323 shares of Procter & Gamble, down from 86,530 shares sold during the quarter. As of the latest SEC filing, these holdings were valued at approximately $1,586,000.
Several other investment firms have also adjusted their positions in Procter & Gamble, reflecting a broader trend among institutional investors. For instance, Nova Wealth Management Inc. acquired a new position in the company during the first quarter, valued at $26,000. Halbert Hargrove Global Advisors LLC similarly purchased shares worth $25,000 in the third quarter. In the second quarter, Signature Resources Capital Management LLC increased its stake by 67.9%, now holding 178 shares valued at $28,000 after buying an additional 72 shares. Other notable investments include Mid American Wealth Advisory Group Inc., which acquired shares valued at around $34,000, and RMG Wealth Management LLC with a new stake worth approximately $37,000. Overall, hedge funds and institutional investors currently own 65.77% of Procter & Gamble’s stock.
In other news concerning the company, Chief Accounting Officer Matthew W. Janzaruk sold 725 shares on October 30th at an average price of $149.57, resulting in a total transaction value of $108,438.25. After this sale, Janzaruk’s remaining holdings in Procter & Gamble consist of 979 shares, valued at around $146,429.03, marking a 42.55% decrease in his position.
Market Sentiment and Performance Updates
Recent developments indicate mixed sentiments around Procter & Gamble. The company reported earnings for the first quarter on October 24th, achieving $1.99 per share, surpassing analysts’ expectations of $1.90 by $0.09. Revenue for the quarter reached $22.39 billion, slightly exceeding forecasts of $22.23 billion and reflecting a 3.0% increase compared to the previous year. Procter & Gamble has set its earnings per share guidance for fiscal year 2026 between $6.83 and $7.10, which supports ongoing cash flow and dividend sustainability.
Despite the earnings beat, market analysts have flagged concerns regarding volume growth, particularly in North America. Wells Fargo recently downgraded its price target for Procter & Gamble from $170 to $158, maintaining an overweight rating but highlighting potential caution among investors due to this adjustment. Analysts have noted that consumer staples, including Procter & Gamble, have underperformed relative to the broader market, raising sensitivity to any slowdown in consumption.
As of the latest trading session, shares of Procter & Gamble opened at $139.98. The company boasts a market capitalization of $327.08 billion and a price-to-earnings (P/E) ratio of 20.43. The stock’s performance has varied, with a 12-month low of $138.14 and a 12-month high of $179.99.
Dividend and Analyst Ratings
Procter & Gamble has also recently declared a quarterly dividend of $1.0568, which was paid on November 17th to stockholders of record as of October 24th. This dividend corresponds to an annualized yield of 3.0% with a payout ratio of 61.75%.
Analysts have varied in their ratings and price targets for Procter & Gamble. Berenberg Bank recently increased its target price from $152.00 to $154.00 while maintaining a “hold” rating. Conversely, Barclays reduced its target price from $153.00 to $151.00, reiterating an “equal weight” rating. UBS Group has also adjusted its price target from $180.00 to $176.00 with a “buy” rating. Overall, thirteen analysts rate the stock as a “buy,” while ten recommend holding it, resulting in a consensus rating of “Moderate Buy” and an average price target of $170.81.
Procter & Gamble, headquartered in Cincinnati, Ohio, is one of the world’s largest producers of branded consumer packaged goods. Founded in 1837, the company continues to focus on a broad portfolio of household and personal care products, catering to consumers and retailers globally.