Korea Investment CORP lessened its holdings in Procter & Gamble Co (NYSE:PG) by 12.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,651,945 shares of the company’s stock after selling 240,100 shares during the quarter. Korea Investment CORP’s holdings in Procter & Gamble were worth $128,951,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Whitener Capital Management Inc. boosted its holdings in Procter & Gamble by 4.4% in the 2nd quarter. Whitener Capital Management Inc. now owns 25,952 shares of the company’s stock worth $2,025,000 after buying an additional 1,084 shares during the last quarter. Blue Fin Capital Inc. boosted its holdings in Procter & Gamble by 4.7% in the 2nd quarter. Blue Fin Capital Inc. now owns 16,125 shares of the company’s stock worth $1,259,000 after buying an additional 717 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Procter & Gamble by 6.1% in the 1st quarter. IHT Wealth Management LLC now owns 16,982 shares of the company’s stock worth $1,314,000 after buying an additional 981 shares during the last quarter. Truepoint Inc. boosted its holdings in Procter & Gamble by 1,148.6% in the 2nd quarter. Truepoint Inc. now owns 299,861 shares of the company’s stock worth $23,407,000 after buying an additional 275,846 shares during the last quarter. Finally, Cypress Capital Management LLC boosted its holdings in Procter & Gamble by 12.6% in the 2nd quarter. Cypress Capital Management LLC now owns 141,219 shares of the company’s stock worth $11,024,000 after buying an additional 15,785 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.
In related news, Vice Chairman Jon R. Moeller sold 228,905 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $91.88, for a total value of $21,031,791.40. Following the transaction, the insider now directly owns 209,033 shares in the company, valued at $19,205,952.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Taylor sold 16,338 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $94.62, for a total value of $1,545,901.56. The disclosure for this sale can be found here. Insiders sold 502,927 shares of company stock worth $46,437,282 over the last quarter. 1.84% of the stock is currently owned by insiders.
Several research firms recently issued reports on PG. Jefferies Financial Group reiterated a “hold” rating and issued a $86.00 price objective on shares of Procter & Gamble in a report on Friday, November 9th. TD Securities reiterated a “hold” rating on shares of Procter & Gamble in a report on Thursday, November 8th. Bank of America lifted their price objective on Procter & Gamble from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, November 6th. ValuEngine upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded Procter & Gamble from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Procter & Gamble currently has an average rating of “Hold” and an average price target of $88.38.
PG opened at $92.45 on Friday. Procter & Gamble Co has a one year low of $70.73 and a one year high of $94.86. The company has a market capitalization of $235.23 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 3.06 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 (NYSE:PG) last released its quarterly earnings data on Friday, October 19th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Procter & Gamble had a return on equity of 21.20% and a net margin of 15.10%. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.45 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that Procter & Gamble Co will post 4.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were issued a $0.7172 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, October 18th. Procter & Gamble’s dividend payout ratio is presently 68.01%.
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Procter & Gamble Profile
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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