ING Groep NV cut its stake in Procter & Gamble Co (NYSE:PG) by 55.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,856 shares of the company’s stock after selling 332,882 shares during the period. ING Groep NV’s holdings in Procter & Gamble were worth $24,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of PG. Cascade Investment Advisors Inc. grew its position in shares of Procter & Gamble by 0.5% in the second quarter. Cascade Investment Advisors Inc. now owns 3,395 shares of the company’s stock valued at $296,000 after purchasing an additional 17 shares in the last quarter. FineMark National Bank & Trust lifted its holdings in Procter & Gamble by 1.4% in the second quarter. FineMark National Bank & Trust now owns 141,873 shares of the company’s stock valued at $12,364,000 after acquiring an additional 2,014 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in Procter & Gamble by 1.4% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 7,287 shares of the company’s stock valued at $635,000 after acquiring an additional 100 shares during the last quarter. Armstrong Henry H Associates Inc. lifted its holdings in Procter & Gamble by 3.8% in the second quarter. Armstrong Henry H Associates Inc. now owns 459,812 shares of the company’s stock valued at $40,073,000 after acquiring an additional 16,731 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in Procter & Gamble in the second quarter valued at approximately $487,000. Institutional investors and hedge funds own 59.94% of the company’s stock.
A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on Procter & Gamble from $91.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 24th. Royal Bank of Canada reiterated a “buy” rating on shares of Procter & Gamble in a report on Monday, October 23rd. Stifel Nicolaus upped their price objective on Procter & Gamble from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Vetr upgraded Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price objective on the stock in a report on Thursday, February 1st. Finally, Zacks Investment Research cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Procter & Gamble currently has an average rating of “Buy” and a consensus price target of $88.38.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The company had revenue of $17.40 billion for the quarter, compared to analysts’ expectations of $17.39 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. sell-side analysts predict that Procter & Gamble Co will post 4.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 19th will be paid a dividend of $0.6896 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is 73.60%.
In other news, insider Juan Fernando Posada sold 4,878 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $89.80, for a total value of $438,044.40. Following the sale, the insider now directly owns 25,429 shares in the company, valued at $2,283,524.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathleen B. Fish sold 10,192 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $86.97, for a total value of $886,398.24. The disclosure for this sale can be found here. Insiders have sold 75,981 shares of company stock worth $6,739,389 over the last 90 days. 0.35% of the stock is owned by insiders.
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About Procter & Gamble
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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