First Command Advisory Services Inc. decreased its stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 29.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,867 shares of the company’s stock after selling 5,455 shares during the quarter. First Command Advisory Services Inc.’s holdings in Procter & Gamble were worth $1,869,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PG. BlackRock Inc. bought a new position in Procter & Gamble in the second quarter valued at approximately $27,862,105,000. State Street Corp increased its position in shares of Procter & Gamble by 1.0% during the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company’s stock worth $14,988,999,000 after purchasing an additional 965,461 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $3,850,628,000. Bank of New York Mellon Corp bought a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $2,281,505,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Procter & Gamble by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,797,916 shares of the company’s stock worth $1,704,182,000 after purchasing an additional 300,280 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Insider Buying and Selling
In related news, CEO Sundar G. Raman sold 38,253 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $165.00, for a total value of $6,311,745.00. Following the transaction, the chief executive officer owned 47,745 shares in the company, valued at approximately $7,877,925. This represents a 44.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andre Schulten sold 33,624 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $165.00, for a total transaction of $5,547,960.00. Following the completion of the transaction, the chief financial officer directly owned 65,618 shares in the company, valued at approximately $10,826,970. This represents a 33.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 197,756 shares of company stock valued at $32,336,001. 0.23% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on PG shares. Citigroup increased their price objective on Procter & Gamble from $180.00 to $187.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Evercore upgraded shares of Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 target price on the stock in a report on Tuesday, October 6th. DZ Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Barclays increased their price target on shares of Procter & Gamble from $152.00 to $165.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $164.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.57.
Get Our Latest Research Report on PG
Procter & Gamble Stock Performance
Shares of NYSE PG opened at $167.79 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $170.52. The stock has a 50 day moving average of $153.39 and a 200-day moving average of $149.73. The company has a market capitalization of $388.91 billion, a P/E ratio of 25.27, a P/E/G ratio of 4.15 and a beta of 0.36.
Procter & Gamble (NYSE:PG – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The business had revenue of $23.28 billion for the quarter, compared to analyst estimates of $22.80 billion. During the same period in the previous year, the firm earned $1.99 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Procter & Gamble Company will post 6.99 EPS for the current year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be issued a $1.0885 dividend. This represents a $4.35 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 23rd. Procter & Gamble’s payout ratio is currently 65.51%.
Procter & Gamble Profile
The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.
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