Procter & Gamble Company (The) $PG Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its holdings in Procter & Gamble Company (The) (NYSE:PG) by 92.6% during the second quarter, HoldingsChannel reports. The firm owned 96,860 shares of the company’s stock after selling 1,204,868 shares during the period. Magellan Asset Management Ltd’s holdings in Procter & Gamble were worth $14,204,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Procter & Gamble by 51.5% during the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock worth $6,717,000 after buying an additional 13,617 shares during the last quarter. Taylor Financial Group Inc. increased its stake in shares of Procter & Gamble by 10.6% in the 1st quarter. Taylor Financial Group Inc. now owns 2,891 shares of the company’s stock worth $493,000 after acquiring an additional 277 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Procter & Gamble by 19.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,144 shares of the company’s stock worth $979,000 after acquiring an additional 1,016 shares during the period. Auxano Advisors LLC boosted its position in shares of Procter & Gamble by 10.8% during the 2nd quarter. Auxano Advisors LLC now owns 7,315 shares of the company’s stock valued at $1,165,000 after acquiring an additional 714 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in shares of Procter & Gamble by 2.8% in the second quarter. Schnieders Capital Management LLC. now owns 30,182 shares of the company’s stock valued at $4,809,000 after purchasing an additional 809 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PG. JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Barclays increased their price target on shares of Procter & Gamble from $146.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group lifted their price target on shares of Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $149.00 price objective on shares of Procter & Gamble in a report on Monday. Finally, BMO Capital Markets increased their price objective on Procter & Gamble from $169.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.19.

Procter & Gamble Trading Down 1.3%

NYSE PG opened at $143.18 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. The stock has a market capitalization of $332.81 billion, a P/E ratio of 21.63, a PEG ratio of 4.47 and a beta of 0.39. The firm’s 50-day moving average is $147.25 and its two-hundred day moving average is $148.31. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. This represents a $4.35 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble’s dividend payout ratio (DPR) is 65.71%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 4,030 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the transaction, the insider directly owned 187,001 shares in the company, valued at $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew W. Janzaruk sold 359 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the transaction, the chief accounting officer owned 1,271 shares of the company’s stock, valued at approximately $184,600.04. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,627 shares of company stock valued at $953,417 over the last quarter. 0.20% of the stock is owned by company insiders.

Procter & Gamble Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.