Baker Avenue Asset Management LP purchased a new stake in shares of Procter & Gamble Co (NYSE:PG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,040 shares of the company’s stock, valued at approximately $320,000.
Other hedge funds have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Procter & Gamble in the 4th quarter worth $103,000. Twin Tree Management LP acquired a new position in shares of Procter & Gamble in the 1st quarter worth $144,000. Clearwater Capital Advisors LLC acquired a new position in shares of Procter & Gamble in the 1st quarter worth $154,000. Corbyn Investment Management Inc. MD acquired a new position in shares of Procter & Gamble in the 1st quarter worth $157,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Procter & Gamble in the 4th quarter worth $171,000. Institutional investors own 59.54% of the company’s stock.
In related news, insider Juan Fernando Posada sold 3,080 shares of Procter & Gamble stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $81.98, for a total transaction of $252,498.40. Following the completion of the sale, the insider now owns 27,278 shares of the company’s stock, valued at $2,236,250.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Valarie L. Sheppard sold 27,000 shares of Procter & Gamble stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $80.66, for a total value of $2,177,820.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,968 shares of company stock valued at $8,189,479. Insiders own 0.35% of the company’s stock.
Several analysts have recently commented on PG shares. Zacks Investment Research cut Procter & Gamble from a “hold” rating to a “sell” rating in a research report on Monday, June 25th. Deutsche Bank raised their target price on Procter & Gamble from $84.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Procter & Gamble in a research report on Tuesday, July 31st. Citigroup decreased their target price on Procter & Gamble from $98.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Finally, ValuEngine raised Procter & Gamble from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $84.79.
PG opened at $83.69 on Friday. The firm has a market cap of $205.29 billion, a P/E ratio of 19.83, a PEG ratio of 2.62 and a beta of 0.58. Procter & Gamble Co has a 1 year low of $70.73 and a 1 year high of $94.67. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $16.50 billion during the quarter, compared to analysts’ expectations of $16.52 billion. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. analysts predict that Procter & Gamble Co will post 4.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 20th were given a dividend of $0.7172 per share. The ex-dividend date of this dividend was Thursday, July 19th. This represents a $2.87 dividend on an annualized basis and a yield of 3.43%. Procter & Gamble’s payout ratio is 68.01%.
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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