Westchester Capital Management Inc. grew its stake in Procter & Gamble (NYSE:PG) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,758 shares of the company’s stock after acquiring an additional 1,250 shares during the quarter. Procter & Gamble comprises about 3.3% of Westchester Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Westchester Capital Management Inc.’s holdings in Procter & Gamble were worth $8,063,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in PG. Beach Investment Management LLC. purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $6,942,000. RiverPoint Capital Management LLC increased its holdings in shares of Procter & Gamble by 1.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 296,885 shares of the company’s stock valued at $25,874,000 after acquiring an additional 3,286 shares during the period. Alethea Capital Management LLC increased its holdings in shares of Procter & Gamble by 6.2% in the 2nd quarter. Alethea Capital Management LLC now owns 6,000 shares of the company’s stock valued at $522,000 after acquiring an additional 350 shares during the period. Ifrah Financial Services Inc. purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $249,000. Finally, Intersect Capital LLC increased its holdings in shares of Procter & Gamble by 47.2% in the 2nd quarter. Intersect Capital LLC now owns 45,142 shares of the company’s stock valued at $3,934,000 after acquiring an additional 14,470 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.
PG has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Procter & Gamble from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. JPMorgan Chase boosted their target price on Procter & Gamble from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Goldman Sachs upgraded Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Tuesday, January 16th. Finally, Vetr upgraded Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 target price on the stock in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $84.13.
Shares of PG opened at $73.80 on Friday. Procter & Gamble has a one year low of $73.74 and a one year high of $94.67. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 0.41. The stock has a market cap of $188,949.23, a price-to-earnings ratio of 18.83, a PEG ratio of 2.37 and a beta of 0.57.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. Procter & Gamble had a return on equity of 20.82% and a net margin of 15.17%. The company had revenue of $16.28 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. equities research analysts expect that Procter & Gamble will post 4.2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be issued a $0.7172 dividend. This represents a $2.87 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, April 19th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.69. Procter & Gamble’s payout ratio is 73.21%.
In other news, insider Jeffrey K. Schomburger sold 37,776 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $81.37, for a total value of $3,073,833.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Deborah P. Majoras sold 4,591 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $87.48, for a total value of $401,620.68. The disclosure for this sale can be found here. In the last three months, insiders sold 114,011 shares of company stock valued at $9,710,976. Insiders own 0.35% of the company’s stock.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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