Eagle Ridge Investment Management lowered its holdings in Procter & Gamble Co (NYSE:PG) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,909 shares of the company’s stock after selling 538 shares during the period. Eagle Ridge Investment Management’s holdings in Procter & Gamble were worth $1,544,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eukles Asset Management boosted its holdings in Procter & Gamble by 67.5% in the 2nd quarter. Eukles Asset Management now owns 1,189 shares of the company’s stock valued at $142,000 after purchasing an additional 479 shares during the period. Mattern Wealth Management LLC boosted its holdings in Procter & Gamble by 3.3% in the 2nd quarter. Mattern Wealth Management LLC now owns 20,518 shares of the company’s stock valued at $2,453,000 after purchasing an additional 647 shares during the period. Main Street Research LLC lifted its holdings in shares of Procter & Gamble by 1.8% during the 2nd quarter. Main Street Research LLC now owns 367,679 shares of the company’s stock worth $43,963,000 after acquiring an additional 6,410 shares during the period. Sciencast Management LP lifted its holdings in shares of Procter & Gamble by 51.1% during the 2nd quarter. Sciencast Management LP now owns 23,643 shares of the company’s stock worth $2,951,000 after acquiring an additional 7,993 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $25,876,000. 63.33% of the stock is owned by hedge funds and other institutional investors.
In other Procter & Gamble news, CFO Jon R. Moeller sold 130,626 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $116.37, for a total value of $15,200,947.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nelson Peltz sold 1,005,263 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $114.50, for a total transaction of $115,102,613.50. Following the completion of the transaction, the director now owns 3,891 shares of the company’s stock, valued at $445,519.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,570,603 shares of company stock valued at $179,504,390. Corporate insiders own 1.75% of the company’s stock.
Shares of NYSE:PG opened at $131.12 on Friday. The company has a market cap of $325.35 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.44 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.85 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $121.39 and a 200 day simple moving average of $119.14. Procter & Gamble Co has a one year low of $94.34 and a one year high of $132.03.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.15. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $16.97 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Procter & Gamble Co will post 5.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 24th will be given a $0.7907 dividend. This represents a $3.16 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 23rd. Procter & Gamble’s dividend payout ratio (DPR) is currently 61.72%.
PG has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. SunTrust Banks upped their price target on shares of Procter & Gamble from $115.00 to $120.00 in a report on Wednesday, July 22nd. Stifel Nicolaus upped their price target on shares of Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Deutsche Bank upped their price target on shares of Procter & Gamble from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Bank of America reaffirmed a “buy” rating and set a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $133.67.
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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