WNY Asset Management Buys Stake in Procter & Gamble

WNY Asset Management LLC has acquired a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report), according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,790 shares of the company's stock, valued at approximately $1,125,000.

This is not an isolated incident; several other hedge funds have made changes to their positions in the company. Cibc World Market Inc. boosted its position in shares of Procter & Gamble by 40.6% during the 4th quarter. The company now owns 511,833 shares of the company's stock worth $73,351,000 after purchasing an additional 147,701 shares in the last quarter.

Procter & Gamble has a strong track record and is expected to continue growing its business. Citigroup maintained a Buy rating and set a $170 price target for Procter & Gamble, implying substantial potential upside from recent levels. The company's management is emphasizing innovation, productivity improvements, e-commerce growth, and market-share gains to support a consumer recovery.