Orca Investment Management LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,644 shares of the company’s stock after selling 222 shares during the period. Orca Investment Management LLC’s holdings in The Procter & Gamble were worth $494,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Emerson Wealth Management LLC acquired a new position in shares of The Procter & Gamble during the first quarter worth $26,000. MD Financial Management Inc. acquired a new position in shares of The Procter & Gamble in the 4th quarter valued at $28,000. Greenhouse Wealth Management LLC acquired a new stake in The Procter & Gamble during the 4th quarter worth about $31,000. Luken Investment Analytics LLC acquired a new stake in The Procter & Gamble during the 4th quarter worth about $34,000. Finally, Flagship Private Wealth LLC acquired a new stake in The Procter & Gamble during the 4th quarter worth about $36,000. 63.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of The Procter & Gamble from a “buy” rating to a “hold” rating and set a $141.00 price target on the stock. in a research note on Thursday, January 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Procter & Gamble from $159.00 to $158.00 and set a “buy” rating for the company in a report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “neutral” rating and issued a $150.00 price target (down previously from $165.00) on shares of The Procter & Gamble in a research note on Tuesday, April 27th. Citigroup cut shares of The Procter & Gamble from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 21st. Finally, Independent Research raised shares of The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research report on Friday, January 22nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The Procter & Gamble has a consensus rating of “Buy” and a consensus target price of $148.93.
The Procter & Gamble (NYSE:PG) last announced its earnings results on Monday, April 19th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.07. The business had revenue of $18.10 billion during the quarter, compared to analysts’ expectations of $18 billion. The Procter & Gamble had a net margin of 18.92% and a return on equity of 30.69%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 5.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Friday, April 23rd will be given a dividend of $0.8698 per share. This is a positive change from The Procter & Gamble’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, April 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.58%. The Procter & Gamble’s dividend payout ratio is currently 67.97%.
In other news, VP Valarie L. Sheppard sold 1,811 shares of the firm’s stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $125.77, for a total value of $227,769.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven D. Bishop sold 3,173 shares of the firm’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $125.77, for a total transaction of $399,068.21. The disclosure for this sale can be found here. Insiders have sold 560,215 shares of company stock valued at $72,179,449 in the last quarter. 0.70% of the stock is owned by company insiders.
The Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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