Los Angeles Capital Management & Equity Research Inc. raised its position in Procter & Gamble Co (NYSE:PG) by 12.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,242,319 shares of the company’s stock after acquiring an additional 140,687 shares during the period. Procter & Gamble makes up about 0.7% of Los Angeles Capital Management & Equity Research Inc.’s holdings, making the stock its 18th largest position. Los Angeles Capital Management & Equity Research Inc.’s holdings in Procter & Gamble were worth $136,220,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Eukles Asset Management bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $80,000. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $1,838,000. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in shares of Procter & Gamble by 13.0% during the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 14,156 shares of the company’s stock valued at $1,301,000 after acquiring an additional 1,629 shares in the last quarter. NuWave Investment Management LLC increased its holdings in shares of Procter & Gamble by 5,075.0% during the fourth quarter. NuWave Investment Management LLC now owns 2,070 shares of the company’s stock valued at $191,000 after acquiring an additional 2,030 shares in the last quarter. Finally, Mycio Wealth Partners LLC increased its holdings in shares of Procter & Gamble by 15.6% during the fourth quarter. Mycio Wealth Partners LLC now owns 9,459 shares of the company’s stock valued at $869,000 after acquiring an additional 1,274 shares in the last quarter. 62.17% of the stock is owned by hedge funds and other institutional investors.
In other Procter & Gamble news, VP Valarie L. Sheppard sold 17,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $120.20, for a total value of $2,043,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marylynn Fergusonmchugh sold 37,027 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $116.00, for a total value of $4,295,132.00. Following the completion of the transaction, the chief executive officer now directly owns 112,703 shares in the company, valued at approximately $13,073,548. The disclosure for this sale can be found here. In the last three months, insiders sold 160,862 shares of company stock worth $18,157,146. Insiders own 1.84% of the company’s stock.
PG stock opened at $116.81 on Wednesday. The stock has a fifty day simple moving average of $114.43. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.75. Procter & Gamble Co has a 1-year low of $78.49 and a 1-year high of $121.76. The stock has a market capitalization of $292.21 billion, a PE ratio of 25.90, a P/E/G ratio of 3.38 and a beta of 0.45.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The business had revenue of $17.09 billion for the quarter, compared to analysts’ expectations of $16.86 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Procter & Gamble Co will post 4.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.7459 dividend. The ex-dividend date is Thursday, July 18th. This represents a $2.98 annualized dividend and a yield of 2.55%. Procter & Gamble’s dividend payout ratio is currently 65.93%.
PG has been the subject of several recent research reports. Royal Bank of Canada restated a “neutral” rating and set a $89.00 price objective on shares of Procter & Gamble in a report on Tuesday, July 30th. Stifel Nicolaus set a $117.00 price target on Procter & Gamble and gave the stock a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley upped their price target on Procter & Gamble from $120.00 to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Co reiterated a “buy” rating and set a $135.00 price target (up previously from $125.00) on shares of Procter & Gamble in a report on Tuesday, July 30th. Finally, TheStreet downgraded Procter & Gamble from an “a-” rating to a “c+” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $108.15.
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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