Neo Ivy Capital Management Buys New Holdings in Procter & Gamble Co (NYSE:PG)

Kristine Brawn 2020-03-10 19:03

Neo Ivy Capital Management bought a new stake in Procter & Gamble Co (NYSE:PG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,620 shares of the company’s stock, valued at approximately $702,000. Procter & Gamble comprises about 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PG. Belmont Capital LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $34,000. Wealthcare Capital Management LLC increased its position in shares of Procter & Gamble by 126.0% during the fourth quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock worth $42,000 after purchasing an additional 189 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in Procter & Gamble in the 4th quarter valued at $44,000. Lighthouse Financial Advisors Inc. purchased a new stake in Procter & Gamble in the 4th quarter valued at $44,000. Finally, Barnett & Company Inc. grew its holdings in Procter & Gamble by 626.9% in the 4th quarter. Barnett & Company Inc. now owns 378 shares of the company’s stock valued at $47,000 after buying an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Shares of NYSE PG traded up $0.72 during mid-day trading on Tuesday, reaching $116.78. 1,054,296 shares of the company’s stock were exchanged, compared to its average volume of 8,484,554. The firm has a market capitalization of $300.43 billion, a price-to-earnings ratio of 68.82, a PEG ratio of 3.32 and a beta of 0.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.63. Procter & Gamble Co has a 52-week low of $98.51 and a 52-week high of $128.09. The company’s 50-day moving average is $123.85 and its 200-day moving average is $122.76.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, January 23rd. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Procter & Gamble had a return on equity of 27.14% and a net margin of 6.92%. The business had revenue of $18.24 billion during the quarter, compared to analysts’ expectations of $18.37 billion. During the same period in the prior year, the business posted $1.25 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that Procter & Gamble Co will post 4.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $0.7459 per share. This represents a $2.98 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, January 23rd. Procter & Gamble’s payout ratio is 65.93%.

Several brokerages have issued reports on PG. Stifel Nicolaus restated a “hold” rating and issued a $119.00 target price on shares of Procter & Gamble in a report on Friday, January 24th. Morgan Stanley restated a “buy” rating and issued a $134.00 target price on shares of Procter & Gamble in a report on Friday, January 24th. Citigroup upped their target price on Procter & Gamble from $138.00 to $143.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Berenberg Bank restated a “hold” rating and issued a $130.00 target price on shares of Procter & Gamble in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $124.86.

In related news, CEO Ma. Fatima Francisco sold 3,000 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $126.50, for a total transaction of $379,500.00. Following the transaction, the chief executive officer now owns 3,856 shares of the company’s stock, valued at approximately $487,784. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David S. Taylor sold 58,297 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $125.93, for a total value of $7,341,341.21. Following the completion of the sale, the chief executive officer now directly owns 284,069 shares in the company, valued at approximately $35,772,809.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,682 shares of company stock worth $12,441,819. 1.75% of the stock is owned by corporate insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.