Chesapeake Wealth Management Decreases Holdings in The Procter & Gamble Company (NYSE:PG)

Chesapeake Wealth Management reduced its position in The Procter & Gamble Company (NYSE:PG) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,329 shares of the company’s stock after selling 378 shares during the quarter. Chesapeake Wealth Management’s holdings in Procter & Gamble were worth $2,528,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wulff Hansen & CO. raised its position in shares of Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after purchasing an additional 3,653,477 shares during the last quarter. TD Asset Management Inc raised its position in Procter & Gamble by 114.9% during the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after buying an additional 1,907,716 shares during the last quarter. Swedbank AB acquired a new stake in Procter & Gamble during the 1st quarter valued at approximately $233,788,000. Ilex Capital Partners UK LLP purchased a new stake in shares of Procter & Gamble in the 1st quarter valued at $228,212,000. Finally, Capital Research Global Investors increased its stake in shares of Procter & Gamble by 24.4% in the first quarter. Capital Research Global Investors now owns 5,560,887 shares of the company’s stock worth $902,254,000 after acquiring an additional 1,089,102 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $174.22 on Friday. The firm has a 50-day simple moving average of $170.21 and a 200-day simple moving average of $165.69. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $411.18 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 3.84 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. On average, equities analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.85%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PG. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays lowered their target price on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.16.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jon R. Moeller sold 72,174 shares of Procter & Gamble stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the sale, the chief executive officer now directly owns 263,158 shares in the company, valued at approximately $45,002,649.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock worth $63,829,141 in the last ninety days. 0.17% of the stock is owned by insiders.

About Procter & Gamble

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.