Granite Investment Partners LLC decreased its stake in Procter & Gamble Co (NYSE:PG) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,629 shares of the company’s stock after selling 388 shares during the period. Granite Investment Partners LLC’s holdings in Procter & Gamble were worth $1,823,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Copperwynd Financial LLC boosted its position in Procter & Gamble by 3.0% during the second quarter. Copperwynd Financial LLC now owns 15,018 shares of the company’s stock valued at $1,647,000 after purchasing an additional 431 shares during the last quarter. Alera Investment Advisors LLC lifted its position in shares of Procter & Gamble by 28.0% in the second quarter. Alera Investment Advisors LLC now owns 2,244 shares of the company’s stock worth $246,000 after buying an additional 491 shares during the last quarter. Congress Asset Management Co. MA lifted its position in shares of Procter & Gamble by 2,503.6% in the second quarter. Congress Asset Management Co. MA now owns 539,491 shares of the company’s stock worth $59,155,000 after buying an additional 518,770 shares during the last quarter. LLBH Private Wealth Management LLC lifted its position in shares of Procter & Gamble by 1,311.4% in the second quarter. LLBH Private Wealth Management LLC now owns 118,179 shares of the company’s stock worth $921,000 after buying an additional 109,806 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in shares of Procter & Gamble by 2.8% in the second quarter. First Republic Investment Management Inc. now owns 1,236,140 shares of the company’s stock worth $135,543,000 after buying an additional 33,340 shares during the last quarter. 65.83% of the stock is currently owned by hedge funds and other institutional investors.
PG stock traded down $0.34 during trading hours on Friday, reaching $122.43. 34,712 shares of the stock were exchanged, compared to its average volume of 6,182,078. The company has a market cap of $304.85 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 3.48 and a beta of 0.42. The firm’s 50-day moving average is $118.41 and its 200-day moving average is $109.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.75 and a quick ratio of 0.58. Procter & Gamble Co has a 12 month low of $78.49 and a 12 month high of $123.43.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The company had revenue of $17.09 billion during the quarter, compared to analysts’ expectations of $16.86 billion. During the same quarter last year, the company earned $0.94 EPS. Procter & Gamble’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Procter & Gamble Co will post 4.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a $0.7459 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $2.98 annualized dividend and a yield of 2.44%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.93%.
In other Procter & Gamble news, insider Mary Theresa Grabowski sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.10, for a total transaction of $619,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Valarie L. Sheppard sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $120.20, for a total transaction of $2,043,400.00. The disclosure for this sale can be found here. Insiders sold a total of 448,674 shares of company stock valued at $53,197,461 over the last quarter. 1.75% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Goldman Sachs Group raised Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $114.00 to $125.00 in a research report on Thursday, June 27th. Royal Bank of Canada reissued a “neutral” rating and set a $89.00 price objective on shares of Procter & Gamble in a research report on Tuesday, July 30th. UBS Group set a $122.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Deutsche Bank boosted their price target on Procter & Gamble from $106.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, June 17th. Finally, Stifel Nicolaus set a $117.00 price target on Procter & Gamble and gave the company a “hold” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $108.15.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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