Tufton Capital Management decreased its stake in shares of Procter & Gamble Co (NYSE:PG) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,994 shares of the company’s stock after selling 1,790 shares during the quarter. Procter & Gamble comprises about 1.9% of Tufton Capital Management’s investment portfolio, making the stock its 22nd biggest holding. Tufton Capital Management’s holdings in Procter & Gamble were worth $8,742,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new position in Procter & Gamble during the fourth quarter worth $1,738,000. Palladium Partners LLC increased its position in Procter & Gamble by 117.6% during the first quarter. Palladium Partners LLC now owns 142,236 shares of the company’s stock worth $11,277,000 after acquiring an additional 76,863 shares during the period. KCS Wealth Advisory increased its position in Procter & Gamble by 12.6% during the first quarter. KCS Wealth Advisory now owns 8,762 shares of the company’s stock worth $695,000 after acquiring an additional 979 shares during the period. Becker Capital Management Inc. increased its position in Procter & Gamble by 6.0% during the first quarter. Becker Capital Management Inc. now owns 455,030 shares of the company’s stock worth $36,075,000 after acquiring an additional 25,612 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Procter & Gamble by 0.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 700,848 shares of the company’s stock worth $55,563,000 after acquiring an additional 4,988 shares during the period. Institutional investors and hedge funds own 58.54% of the company’s stock.
Shares of Procter & Gamble stock opened at $91.20 on Tuesday. The firm has a market capitalization of $226.41 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.62 and a current ratio of 0.80. Procter & Gamble Co has a 52-week low of $70.73 and a 52-week high of $93.14.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 19th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.45 billion. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. Analysts expect that Procter & Gamble Co will post 4.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a $0.7172 dividend. This represents a $2.87 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 68.01%.
In other news, insider Carolyn M. Tastad sold 4,181 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $83.52, for a total value of $349,197.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Deborah P. Majoras sold 1,980 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $81.35, for a total transaction of $161,073.00. Following the completion of the sale, the insider now directly owns 50,074 shares in the company, valued at approximately $4,073,519.90. The disclosure for this sale can be found here. Insiders sold a total of 73,477 shares of company stock worth $6,125,522 in the last three months. Insiders own 1.84% of the company’s stock.
PG has been the topic of a number of research reports. Berenberg Bank set a $78.00 target price on shares of Procter & Gamble and gave the stock a “sell” rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research report on Friday, October 19th. Societe Generale set a $87.00 target price on shares of Procter & Gamble and gave the stock a “hold” rating in a research report on Tuesday, October 23rd. Atlantic Securities initiated coverage on shares of Procter & Gamble in a research report on Thursday, September 20th. They set an “overweight” rating and a $94.00 target price on the stock. Finally, Macquarie boosted their target price on shares of Procter & Gamble from $86.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $87.66.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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