Cahaba Wealth Management Inc. Trims Position in The Procter & Gamble Company (NYSE:PG)

Cahaba Wealth Management Inc. cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,448 shares of the company’s stock after selling 104 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Procter & Gamble were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Norges Bank purchased a new stake in shares of Procter & Gamble during the fourth quarter worth about $3,956,117,000. Fisher Asset Management LLC grew its position in shares of Procter & Gamble by 5.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock worth $1,546,302,000 after buying an additional 554,451 shares in the last quarter. Franklin Resources Inc. raised its holdings in Procter & Gamble by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock valued at $1,402,636,000 after acquiring an additional 246,323 shares in the last quarter. Sanders Capital LLC grew its holdings in Procter & Gamble by 3.3% during the 4th quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock worth $1,023,949,000 after acquiring an additional 223,798 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Procter & Gamble by 9.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after buying an additional 545,601 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PG shares. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their target price for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. Evercore ISI raised their target price on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

Procter & Gamble Stock Up 0.1 %

Shares of PG opened at $175.59 on Friday. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.04. The firm has a market capitalization of $414.42 billion, a P/E ratio of 28.69, a P/E/G ratio of 3.72 and a beta of 0.41. The company has a 50-day simple moving average of $168.26 and a 200-day simple moving average of $164.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same quarter last year, the company earned $1.37 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other news, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock valued at $63,829,141 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

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.