Tremblant Capital Group Acquires 7,064 Shares of The Procter & Gamble Company (NYSE:PG)

Tremblant Capital Group boosted its holdings in The Procter & Gamble Company (NYSE:PG) by 68.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,316 shares of the company’s stock after buying an additional 7,064 shares during the quarter. Tremblant Capital Group’s holdings in Procter & Gamble were worth $2,856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Xponance Inc. increased its position in Procter & Gamble by 1.0% during the 2nd quarter. Xponance Inc. now owns 372,529 shares of the company’s stock valued at $61,438,000 after purchasing an additional 3,582 shares during the period. Bank of Montreal Can increased its position in Procter & Gamble by 9.9% during the 2nd quarter. Bank of Montreal Can now owns 4,424,462 shares of the company’s stock valued at $739,770,000 after purchasing an additional 398,585 shares during the period. Evergreen Capital Management LLC increased its position in Procter & Gamble by 5.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 32,481 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,700 shares during the period. Magnetar Financial LLC acquired a new stake in Procter & Gamble during the 2nd quarter valued at approximately $1,428,000. Finally, Public Sector Pension Investment Board increased its position in Procter & Gamble by 14.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,150,045 shares of the company’s stock valued at $189,665,000 after purchasing an additional 141,323 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. 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. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. TD Cowen assumed coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. BNP Paribas assumed coverage on shares of Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective for the company. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Finally, Barclays reduced their price objective on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $173.77 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $170.40 and its two-hundred day simple moving average is $165.88. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $177.94. The stock has a market cap of $410.12 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 3.84 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share 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 business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same period last year, the business earned $1.37 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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

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.