Hotaling Investment Management LLC reduced its stake in Procter & Gamble Co (NYSE:PG) by 40.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,840 shares of the company’s stock after selling 1,243 shares during the period. Hotaling Investment Management LLC’s holdings in Procter & Gamble were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Procter & Gamble by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock worth $23,954,054,000 after acquiring an additional 3,786,962 shares in the last quarter. BlackRock Inc. lifted its holdings in Procter & Gamble by 1.5% during the 2nd quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock worth $18,413,594,000 after buying an additional 2,470,382 shares in the last quarter. Phocas Financial Corp. lifted its holdings in Procter & Gamble by 999,937.0% during the 2nd quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock worth $77,920,000 after buying an additional 71,055,523 shares in the last quarter. Northern Trust Corp lifted its holdings in Procter & Gamble by 0.9% during the 2nd quarter. Northern Trust Corp now owns 33,064,470 shares of the company’s stock worth $3,625,519,000 after buying an additional 295,521 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Procter & Gamble by 6,899.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock worth $2,019,412,000 after buying an additional 18,153,758 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.
Shares of Procter & Gamble stock opened at $123.48 on Tuesday. The firm has a fifty day moving average of $121.85 and a two-hundred day moving average of $114.11. The stock has a market capitalization of $311.20 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 3.50 and a beta of 0.42. Procter & Gamble Co has a 52 week low of $86.74 and a 52 week high of $125.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.72.
Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, October 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. The company had revenue of $17.80 billion during the quarter, compared to analysts’ expectations of $17.43 billion. Procter & Gamble had a net margin of 6.24% and a return on equity of 25.07%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, research analysts forecast that Procter & Gamble Co will post 4.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.7459 per share. This represents a $2.98 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, October 17th. Procter & Gamble’s payout ratio is 65.93%.
In related news, VP Valarie L. Sheppard sold 17,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total value of $2,043,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Theresa Grabowski sold 5,200 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.10, for a total transaction of $619,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 492,519 shares of company stock valued at $58,596,988 in the last quarter. Corporate insiders own 1.75% of the company’s stock.
Several research firms have issued reports on PG. TheStreet raised Procter & Gamble from a “c+” rating to a “b+” rating in a report on Tuesday, October 22nd. ValuEngine downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group upped their price objective on Procter & Gamble from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Co upped their price objective on Procter & Gamble from $135.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price objective on Procter & Gamble from $130.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $115.00.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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