The Procter & Gamble Company (NYSE:PG) Shares Sold by CNB Bank

CNB Bank reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,783 shares of the company’s stock after selling 613 shares during the quarter. Procter & Gamble comprises approximately 1.4% of CNB Bank’s investment portfolio, making the stock its 13th biggest holding. CNB Bank’s holdings in Procter & Gamble were worth $3,080,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Acorn Creek Capital LLC boosted its holdings in Procter & Gamble by 2.8% during the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after acquiring an additional 59 shares during the period. Alera Investment Advisors LLC lifted its position in shares of Procter & Gamble by 1.2% during the 1st quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock worth $812,000 after purchasing an additional 60 shares during the last quarter. Hudson Value Partners LLC grew its holdings in Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after buying an additional 60 shares during the last quarter. Traveka Wealth LLC increased its position in Procter & Gamble by 1.7% in the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after buying an additional 60 shares during the period. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after buying an additional 61 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PG shares. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson restated a “neutral” rating and set a $159.00 price objective on shares of Procter & Gamble in a report on Tuesday, October 15th. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Procter & Gamble Trading Up 0.0 %

Shares of Procter & Gamble stock opened at $171.28 on Friday. The stock has a market capitalization of $404.24 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $171.77 and a 200 day simple moving average of $167.16.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. Research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is presently 65.69%.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.