Procter & Gamble Company (The) (NYSE:PG) Shares Sold by Pettee Investors Inc.

Pettee Investors Inc. lessened its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 12.3% in the first quarter, Holdings Channel.com reports. The firm owned 20,667 shares of the company’s stock after selling 2,895 shares during the period. Procter & Gamble comprises 2.1% of Pettee Investors Inc.’s portfolio, making the stock its 9th largest holding. Pettee Investors Inc.’s holdings in Procter & Gamble were worth $3,522,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PG. Navigoe LLC acquired a new position in shares of Procter & Gamble in the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new position in Procter & Gamble during the 4th quarter valued at approximately $31,000. Hoey Investments Inc. boosted its position in Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. 10Elms LLP acquired a new position in Procter & Gamble during the 4th quarter valued at approximately $34,000. Finally, Sunbeam Capital Management LLC acquired a new position in Procter & Gamble during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.7%

Shares of Procter & Gamble stock opened at $153.68 on Thursday. The stock’s fifty day moving average is $161.43 and its 200-day moving average is $164.61. The firm has a market capitalization of $360.31 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 4.35 and a beta of 0.40. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 12-month low of $151.90 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Procter & Gamble’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. The ex-dividend date is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.75%. Procter & Gamble’s dividend payout ratio is 67.14%.

Insiders Place Their Bets

In other news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider owned 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of a number of analyst reports. Royal Bank Of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Raymond James Financial reduced their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Truist Financial reduced their price objective on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Erste Group Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.25.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.