Troy Asset Management Ltd, an institutional investor, increased its stake in The Procter & Gamble Company (PG:NYE) by 1.7% during the fourth quarter of the previous year, according to the firm’s 13F filing with the Securities and Exchange Commission. The institutional investor now holds 2,186,654 Procter and Gamble stock shares in the company, representing about 9.7% of Troy Asset Management Ltd’s holdings and making the stock its third-largest position.
Other hedge funds and institutional investors have also increased or decreased their stakes in the company. Wall Street analysts are forecasting growth for PG, and Procter and Gamble stock currently has a consensus rating of “Strong Buy” with an average target price of $152.50.
The company reported $1.59 earnings per share for the quarter that ended January 19, 2022, beating analysts’ consensus estimates of $1.58 by $0.01. PG’s revenue for the quarter was $20.77 billion, slightly below analysts’ estimates of $20.75 billion.
Company Profile:
The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
The company sells its products primarily through mass merchandisers, e-commerce, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores, high-frequency stores, pharmacies, electronics stores, and professional channels, as well as directly to consumers. The Procter & Gamble Company was founded in 1837 and is headquartered in Cincinnati, Ohio.
