SCS Capital Management Purchases New Stake in Procter & Gamble

SCS Capital Management LLC has purchased a new stake in Procter & Gamble Company (The) (NYSE:PG), according to its most recent Form 13F filing with the SEC. The institutional investor bought 68,681 shares of the company's stock, valued at approximately $10,071,000.

Other institutional investors have also made changes to their positions in Procter & Gamble during the second quarter. Brighton Jones LLC boosted its stake by 51.5%, Taylor Financial Group Inc. increased its position by 10.6%, and Sivia Capital Partners LLC raised its position by 19.8%. Auxano Advisors LLC lifted its holdings by 10.8% and Schnieders Capital Management LLC. boosted its position by 2.8%.

Institutional investors own 65.77% of the company's stock, according to recent data. Wall Street analysts have been following Procter & Gamble closely, with TD Cowen raising their price target on shares from $142.00 to $150.00 and giving the stock a 'hold' rating.

Procter & Gamble has reported strong earnings results for its second quarter, beating analyst estimates of $1.41 per share. The company's quarterly revenue was up 1.5% compared to the same period last year, and it announced a quarterly dividend of $1.0885 per share.