DAVENPORT & Co LLC Buys 2,996 Shares of The Procter & Gamble Company (NYSE:PG)

DAVENPORT & Co LLC grew its stake in The Procter & Gamble Company (NYSE:PG) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,378 shares of the company’s stock after buying an additional 2,996 shares during the quarter. DAVENPORT & Co LLC’s holdings in Procter & Gamble were worth $24,723,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter valued at about $3,956,117,000. Charles Schwab Investment Management Inc. raised its stake in Procter & Gamble by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after purchasing an additional 206,165 shares during the period. Fisher Asset Management LLC lifted its holdings in Procter & Gamble by 5.6% in the 4th quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock worth $1,547,021,000 after purchasing an additional 559,358 shares in the last quarter. Franklin Resources Inc. boosted its stake in Procter & Gamble by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after purchasing an additional 246,323 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Procter & Gamble by 17.1% during the 4th quarter. California Public Employees Retirement System now owns 9,492,039 shares of the company’s stock valued at $1,390,963,000 after buying an additional 1,387,539 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,544 shares of company stock worth $25,413,051. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PG. Jefferies Financial Group lifted their target price on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Citigroup lifted their price objective on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. BNP Paribas started coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, Argus increased their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.74.

Procter & Gamble Stock Down 0.8 %

Shares of NYSE PG traded down $1.26 during mid-day trading on Thursday, reaching $165.54. 5,735,176 shares of the company were exchanged, compared to its average volume of 6,505,549. The firm has a 50-day moving average of $166.04 and a 200 day moving average of $159.90. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $169.41. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The stock has a market cap of $390.70 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 3.18 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. On average, research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $1.0065 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.43%. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.