Addenda Capital Inc. Trims Stake in The Procter & Gamble Company (NYSE:PG)

Addenda Capital Inc. lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,982 shares of the company’s stock after selling 97 shares during the period. Addenda Capital Inc.’s holdings in Procter & Gamble were worth $5,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the 3rd quarter worth $33,000. Costello Asset Management INC lifted its stake in Procter & Gamble by 2,142.9% during the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after purchasing an additional 300 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new position in shares of Procter & Gamble in the 2nd quarter worth about $58,000. Mendota Financial Group LLC increased its position in shares of Procter & Gamble by 58.0% during the 4th quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock valued at $63,000 after purchasing an additional 138 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in Procter & Gamble by 138.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 401 shares of the company’s stock worth $69,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PG. UBS Group reduced their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Barclays decreased their price target on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company cut their target price on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.65.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at $7,189,463.68. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,447 shares of company stock valued at $12,978,820. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $161.77 on Wednesday. The business has a fifty day simple moving average of $169.09 and a two-hundred day simple moving average of $169.44. The firm has a market capitalization of $380.96 billion, a P/E ratio of 27.89, a P/E/G ratio of 3.63 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $146.28 and a 12 month high of $180.43.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.