Pegasus Asset Management Inc. grew its stake in Procter & Gamble Co (NYSE:PG) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,159 shares of the company’s stock after purchasing an additional 1,354 shares during the quarter. Procter & Gamble makes up approximately 1.9% of Pegasus Asset Management Inc.’s holdings, making the stock its 22nd biggest holding. Pegasus Asset Management Inc.’s holdings in Procter & Gamble were worth $2,042,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Procter & Gamble in the first quarter valued at approximately $144,000. Clearwater Capital Advisors LLC acquired a new stake in shares of Procter & Gamble in the first quarter valued at approximately $154,000. Corbyn Investment Management Inc. MD acquired a new stake in shares of Procter & Gamble in the first quarter valued at approximately $157,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Procter & Gamble by 296.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Procter & Gamble in the first quarter valued at approximately $170,000. Institutional investors and hedge funds own 58.36% of the company’s stock.
PG has been the topic of several analyst reports. Zacks Investment Research lowered shares of Procter & Gamble from a “hold” rating to a “sell” rating in a research note on Monday, June 25th. Deutsche Bank raised their price target on shares of Procter & Gamble from $84.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Wells Fargo & Co reiterated a “hold” rating on shares of Procter & Gamble in a report on Tuesday, July 31st. Citigroup decreased their price objective on shares of Procter & Gamble from $98.00 to $89.00 and set a “buy” rating for the company in a report on Friday, July 20th. Finally, ValuEngine upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.53.
In related news, insider Kathleen B. Fish sold 26,946 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $80.55, for a total transaction of $2,170,500.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Jon R. Moeller sold 2,873 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $81.35, for a total transaction of $233,718.55. Following the sale, the insider now owns 113,638 shares of the company’s stock, valued at $9,244,451.30. The disclosure for this sale can be found here. Insiders have sold 147,186 shares of company stock valued at $12,080,849 over the last 90 days. 1.84% of the stock is currently owned by insiders.
Procter & Gamble stock opened at $82.20 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $209.82 billion, a PE ratio of 19.48, a P/E/G ratio of 2.68 and a beta of 0.59. Procter & Gamble Co has a 12-month low of $70.73 and a 12-month high of $93.51.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $16.50 billion during the quarter, compared to analysts’ expectations of $16.52 billion. Procter & Gamble had a net margin of 14.59% and a return on equity of 20.94%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Procter & Gamble Co will post 4.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be issued a dividend of $0.7172 per share. This represents a $2.87 dividend on an annualized basis and a yield of 3.49%. Procter & Gamble’s payout ratio is 68.01%.
Procter & Gamble Company 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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