Boltwood Capital Management decreased its position in shares of Procter & Gamble Co (NYSE:PG) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,542 shares of the company’s stock after selling 1,692 shares during the period. Procter & Gamble accounts for about 1.9% of Boltwood Capital Management’s investment portfolio, making the stock its 11th largest position. Boltwood Capital Management’s holdings in Procter & Gamble were worth $2,910,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PG. FMR LLC raised its stake in Procter & Gamble by 26.4% during the 1st quarter. FMR LLC now owns 35,400,538 shares of the company’s stock worth $3,683,425,000 after acquiring an additional 7,389,251 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Procter & Gamble by 15,168.2% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,936,221 shares of the company’s stock worth $269,897,000 after acquiring an additional 2,916,990 shares during the period. California Public Employees Retirement System raised its stake in Procter & Gamble by 24.3% during the 4th quarter. California Public Employees Retirement System now owns 8,672,672 shares of the company’s stock worth $797,192,000 after acquiring an additional 1,698,051 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Procter & Gamble by 241.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,378,509 shares of the company’s stock worth $110,845,000 after acquiring an additional 975,027 shares during the period. Finally, Rockland Trust Co. raised its stake in Procter & Gamble by 897.2% during the 4th quarter. Rockland Trust Co. now owns 1,008,086 shares of the company’s stock worth $9,663,000 after acquiring an additional 906,990 shares during the period. Institutional investors own 62.20% of the company’s stock.
A number of equities research analysts have issued reports on PG shares. Barclays cut their price objective on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. Wells Fargo & Co set a $27.00 price objective on shares of Univar and gave the company a “buy” rating in a report on Monday, April 8th. DZ Bank reaffirmed a “buy” rating on shares of Deutz in a report on Wednesday, April 24th. Finally, Morgan Stanley set a $111.00 price objective on shares of Procter & Gamble and gave the company a “buy” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $102.32.
In related news, Chairman David S. Taylor sold 23,045 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $107.95, for a total value of $2,487,707.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. sold 71,500 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $104.62, for a total value of $7,480,330.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,840 shares of company stock valued at $33,904,086. 1.84% of the stock is currently owned by insiders.
Shares of PG stock traded down $1.45 on Tuesday, reaching $113.85. The company’s stock had a trading volume of 8,192,520 shares, compared to its average volume of 8,037,966. The stock’s fifty day simple moving average is $111.61. Procter & Gamble Co has a 1 year low of $77.54 and a 1 year high of $116.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.79 and a quick ratio of 0.60. The stock has a market capitalization of $288.48 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 3.50 and a beta of 0.45.
Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The firm had revenue of $16.46 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the firm posted $1.00 earnings per share. Procter & Gamble’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts expect that Procter & Gamble Co will post 4.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $0.7459 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 70.62%.
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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