Gabelli Funds LLC Sells 1,500 Shares of The Procter & Gamble Company (NYSE:PG)

Gabelli Funds LLC trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,000 shares of the company’s stock after selling 1,500 shares during the period. Gabelli Funds LLC’s holdings in Procter & Gamble were worth $15,667,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC increased its position in Procter & Gamble by 5.5% in the fourth quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock worth $1,546,302,000 after purchasing an additional 554,451 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after buying an additional 733,440 shares during the last quarter. Sanders Capital LLC raised its position in shares of Procter & Gamble by 3.3% during the 4th quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock valued at $1,023,949,000 after buying an additional 223,798 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Procter & Gamble by 9.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after acquiring an additional 545,601 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Procter & Gamble by 1.3% in the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after acquiring an additional 79,665 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PG. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen began coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup raised their target price on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $176.00.

Procter & Gamble Stock Down 0.3 %

Shares of NYSE:PG opened at $173.77 on Tuesday. 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 business’s 50 day moving average is $170.40 and its 200 day moving average is $165.88. The stock has a market cap of $410.12 billion, a P/E ratio of 28.39, 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 announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.32%. Procter & Gamble’s payout ratio is presently 65.69%.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares of the company’s stock, valued at $2,212,043.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 375,553 shares of company stock worth $63,829,141. Corporate insiders own 0.17% of the company’s stock.

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.