Covington Capital Management reduced its stake in Procter & Gamble Company (The) (NYSE:PG) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 187,964 shares of the company’s stock after selling 3,456 shares during the quarter. Procter & Gamble makes up approximately 1.3% of Covington Capital Management’s investment portfolio, making the stock its 21st biggest position. Covington Capital Management’s holdings in Procter & Gamble were worth $16,381,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Asset Planning Services Ltd. raised its holdings in Procter & Gamble by 0.4% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after purchasing an additional 5 shares during the period. Harding Loevner LP bought a new stake in Procter & Gamble during the second quarter valued at about $119,000. Blume Capital Management Inc. raised its holdings in Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after acquiring an additional 300 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in Procter & Gamble by 11.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,603 shares of the company’s stock valued at $144,000 after acquiring an additional 170 shares during the period. Finally, Winfield Associates Inc. raised its holdings in Procter & Gamble by 0.7% during the second quarter. Winfield Associates Inc. now owns 2,260 shares of the company’s stock valued at $197,000 after acquiring an additional 15 shares during the period. 59.54% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Jefferies Group reissued a “buy” rating and set a $88.23 price target (down from $99.00) on shares of Procter & Gamble in a report on Thursday, November 16th. Vetr cut Procter & Gamble from a “buy” rating to a “hold” rating and set a $90.38 price target on the stock. in a report on Tuesday, November 7th. Morgan Stanley decreased their price target on Procter & Gamble from $91.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 24th. Royal Bank of Canada reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, October 23rd. Finally, Stifel Nicolaus set a $87.00 price target on Procter & Gamble and gave the company a “hold” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $87.81.
In other news, insider Marylynn Fergusonmchugh sold 4,363 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $87.00, for a total transaction of $379,581.00. Following the completion of the transaction, the insider now owns 85,495 shares in the company, valued at $7,438,065. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carolyn M. Tastad sold 5,300 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $89.18, for a total value of $472,654.00. Following the transaction, the insider now owns 57,191 shares of the company’s stock, valued at approximately $5,100,293.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,575 shares of company stock valued at $1,927,095. Company insiders own 0.35% of the company’s stock.
Shares of Procter & Gamble Company (NYSE PG) traded down $0.38 during trading on Wednesday, hitting $89.85. The stock had a trading volume of 6,558,800 shares, compared to its average volume of 7,360,045. The stock has a market capitalization of $228,909.73, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 2.90 and a beta of 0.67. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.37. Procter & Gamble Company has a 52-week low of $83.24 and a 52-week high of $94.67.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.02. The firm had revenue of $16.65 billion during the quarter, compared to analyst estimates of $16.69 billion. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. sell-side analysts forecast that Procter & Gamble Company will post 4.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th were given a dividend of $0.6896 per share. The ex-dividend date was Thursday, October 19th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.07%. 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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