Bank of New York Mellon Corp reduced its stake in Procter & Gamble Company (The) (NYSE:PG) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,722,606 shares of the company’s stock after selling 5,663,593 shares during the quarter. Procter & Gamble comprises 0.8% of Bank of New York Mellon Corp’s holdings, making the stock its 14th largest holding. Bank of New York Mellon Corp owned about 1.24% of Procter & Gamble worth $2,764,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Trillium Asset Management LLC lifted its stake in shares of Procter & Gamble by 2.0% in the second quarter. Trillium Asset Management LLC now owns 170,302 shares of the company’s stock worth $14,842,000 after acquiring an additional 3,387 shares during the period. Holderness Investments Co. lifted its stake in Procter & Gamble by 78.2% in the first quarter. Holderness Investments Co. now owns 21,467 shares of the company’s stock valued at $1,929,000 after buying an additional 9,419 shares during the period. Barrett Asset Management LLC lifted its stake in Procter & Gamble by 3.3% in the second quarter. Barrett Asset Management LLC now owns 137,397 shares of the company’s stock valued at $11,974,000 after buying an additional 4,325 shares during the period. Thomaspartners Inc. lifted its stake in Procter & Gamble by 9.9% in the first quarter. Thomaspartners Inc. now owns 2,483,566 shares of the company’s stock valued at $223,148,000 after buying an additional 224,714 shares during the period. Finally, Whittier Trust Co. lifted its stake in Procter & Gamble by 0.7% in the second quarter. Whittier Trust Co. now owns 287,996 shares of the company’s stock valued at $25,099,000 after buying an additional 2,113 shares during the period. 59.54% of the stock is currently owned by institutional investors.
In related news, insider Marylynn Fergusonmchugh sold 2,856 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $92.98, for a total transaction of $265,550.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R. Alexandra Keith sold 1,298 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total value of $115,664.78. The disclosure for this sale can be found here. Insiders have sold a total of 21,575 shares of company stock valued at $1,927,095 in the last quarter. 0.35% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on PG shares. Stifel Nicolaus set a $87.00 price target on Procter & Gamble and gave the company a “hold” rating in a research note on Friday, October 20th. Jefferies Group reaffirmed a “buy” rating and set a $104.00 target price on shares of Procter & Gamble in a research report on Tuesday, October 10th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Procter & Gamble in a research report on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, October 23rd. Finally, Bank of America upped their target price on Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $87.81.
Shares of Procter & Gamble Company (NYSE:PG) traded down $1.15 during trading hours on Thursday, reaching $90.10. The company’s stock had a trading volume of 7,274,135 shares, compared to its average volume of 7,380,307. The company has a market cap of $231,877.97, a P/E ratio of 22.97, a PEG ratio of 2.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.75. Procter & Gamble Company has a 52-week low of $83.24 and a 52-week high of $94.67.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. sell-side analysts forecast that Procter & Gamble Company will post 4.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th were paid a dividend of $0.6896 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $2.76 annualized dividend and a dividend yield of 3.06%. Procter & Gamble’s payout ratio is 48.51%.
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Procter & Gamble Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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