Freestone Grove Invests Heavily in Procter & Gamble Amid Q2 Earnings Beat

Freestone Grove Partners LP, a financial institution, has invested $112.03 million in Procter & Gamble Company (NYSE: PG).

According to MarketBeat, Freestone Grove acquired 763,960 shares of Procter & Gamble's stock in the second quarter.

The investment makes up about 0.7% of Freestone Grove Partners LP's portfolio and represents its 21st largest holding.

Procter & Gamble reported quarterly earnings of $1.43 per share, beating analyst estimates by $0.02. The company also declared a quarterly dividend of $1.0885 per share on August 17th.

The stock has seen various institutional investors increase their stakes in Procter & Gamble, with Brighton Jones LLC boosting its holdings by 51.5% and Sivia Capital Partners LLC lifting its position by 19.8% in the second quarter.