Oak Asset Management LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Oak Asset Management LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 19,765 shares of the company’s stock after selling 86 shares during the period. Oak Asset Management LLC’s holdings in Procter & Gamble were worth $3,207,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Teza Capital Management LLC raised its position in shares of Procter & Gamble by 212.9% in the third quarter. Teza Capital Management LLC now owns 4,284 shares of the company’s stock valued at $625,000 after buying an additional 2,915 shares during the last quarter. Ellerson Group Inc. ADV acquired a new stake in Procter & Gamble in the 3rd quarter valued at about $120,000. Legacy Advisors LLC lifted its stake in Procter & Gamble by 16.4% in the 3rd quarter. Legacy Advisors LLC now owns 19,112 shares of the company’s stock worth $2,788,000 after purchasing an additional 2,697 shares in the last quarter. Lakeshore Financial Planning Inc. acquired a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $546,000. Finally, Laird Norton Trust Company LLC grew its position in shares of Procter & Gamble by 12.7% in the third quarter. Laird Norton Trust Company LLC now owns 5,768 shares of the company’s stock valued at $841,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Down 1.0 %

Shares of NYSE:PG opened at $164.92 on Monday. The firm’s 50-day moving average is $165.60 and its two-hundred day moving average is $158.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $169.41. The firm has a market capitalization of $389.23 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. Analysts predict that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday, June 25th. Argus boosted their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, BNP Paribas assumed coverage on Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the transaction, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,544 shares of company stock valued at $25,413,051. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.