Beaton Management Co. Inc. acquired a new stake in Procter & Gamble Company (The) (NYSE:PG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 40,839 shares of the company’s stock, valued at approximately $3,559,000. Procter & Gamble makes up about 3.5% of Beaton Management Co. Inc.’s holdings, making the stock its 3rd biggest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Asset Planning Services Ltd. grew its holdings in shares of Procter & Gamble by 0.4% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after purchasing an additional 5 shares in the last quarter. Harding Loevner LP acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth $119,000. Blume Capital Management Inc. grew its holdings in shares of Procter & Gamble by 25.4% during the 2nd quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of Procter & Gamble by 11.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,603 shares of the company’s stock worth $144,000 after purchasing an additional 170 shares in the last quarter. Finally, Watermark Asset Management Inc. acquired a new stake in shares of Procter & Gamble during the 1st quarter worth $201,000. 59.54% of the stock is currently owned by hedge funds and other institutional investors.
In other Procter & Gamble news, insider Marylynn Fergusonmchugh sold 2,856 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $92.98, for a total value of $265,550.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ioannis Skoufalos sold 2,880 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $88.75, for a total value of $255,600.00. The disclosure for this sale can be found here. Insiders sold 21,575 shares of company stock valued at $1,927,095 over the last quarter. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 20th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. analysts anticipate that Procter & Gamble Company will post 4.17 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 20th were given a $0.6896 dividend. The ex-dividend date was Thursday, October 19th. This represents a $2.76 annualized dividend and a yield of 3.02%. Procter & Gamble’s dividend payout ratio is presently 48.51%.
Several research firms have recently issued reports on PG. Jefferies Group reissued a “buy” rating and set a $92.44 target price (down from $103.00) on shares of Procter & Gamble in a report on Thursday, August 17th. BidaskClub raised Procter & Gamble from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Vetr raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $93.02 target price on the stock in a report on Monday, October 23rd. Deutsche Bank started coverage on Procter & Gamble in a report on Wednesday. They set a “buy” rating and a $101.00 target price on the stock. Finally, Bank of America upped their price objective on Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Procter & Gamble has a consensus rating of “Hold” and a consensus price target of $88.31.
Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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