Smith Asset Management Group LP bought a new position in shares of Procter & Gamble Co (NYSE:PG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 295,298 shares of the company’s stock, valued at approximately $26,872,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Planning Services Ltd. raised its holdings in Procter & Gamble by 0.4% during the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after buying an additional 5 shares during the last quarter. Harding Loevner LP acquired a new position in Procter & Gamble during the second quarter worth $119,000. Kohmann Bosshard Financial Services LLC acquired a new position in Procter & Gamble during the third quarter worth $125,000. Blume Capital Management Inc. raised its holdings in Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after buying an additional 300 shares during the last quarter. Finally, Legacy Advisors LLC acquired a new position in Procter & Gamble during the third quarter worth $174,000. 59.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Marylynn Fergusonmchugh sold 4,363 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $87.00, for a total transaction of $379,581.00. Following the completion of the sale, the insider now owns 85,495 shares in the company, valued at $7,438,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn M. Tastad sold 5,300 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $89.18, for a total transaction of $472,654.00. Following the sale, the insider now owns 57,191 shares of the company’s stock, valued at approximately $5,100,293.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,719 shares of company stock valued at $1,661,544. 0.35% of the stock is currently owned by corporate insiders.
Shares of Procter & Gamble Co (PG) opened at $91.07 on Friday. The company has a market cap of $231,040.77, a PE ratio of 22.88, a PEG ratio of 2.91 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. Procter & Gamble Co has a 1-year low of $85.42 and a 1-year high of $94.67.
Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 20th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The company had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. sell-side analysts expect that Procter & Gamble Co will post 4.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be issued a $0.6896 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $2.76 annualized dividend and a dividend yield of 3.03%. Procter & Gamble’s dividend payout ratio is currently 48.51%.
PG has been the topic of several research reports. Deutsche Bank initiated coverage on shares of Procter & Gamble in a report on Wednesday, December 13th. They set a “buy” rating and a $101.00 price objective on the stock. Zacks Investment Research downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Goldman Sachs Group restated a “sell” rating on shares of Procter & Gamble in a report on Wednesday, October 4th. Vetr downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and set a $90.38 price objective on the stock. in a report on Tuesday, November 7th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Procter & Gamble in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Procter & Gamble currently has an average rating of “Hold” and an average price target of $88.51.
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About Procter & Gamble
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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