Wallace Capital Management Inc. Purchases 678 Shares of The Procter & Gamble Company (NYSE:PG)

Wallace Capital Management Inc. increased its position in shares of The Procter & Gamble Company (NYSE:PG) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,391 shares of the company’s stock after acquiring an additional 678 shares during the period. Procter & Gamble comprises 0.5% of Wallace Capital Management Inc.’s holdings, making the stock its 22nd largest holding. Wallace Capital Management Inc.’s holdings in Procter & Gamble were worth $4,187,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. HighPoint Advisor Group LLC acquired a new position in Procter & Gamble during the fourth quarter worth about $17,696,000. Bayesian Capital Management LP increased its position in Procter & Gamble by 43.0% during the 4th quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock worth $7,743,000 after purchasing an additional 15,900 shares in the last quarter. Steele Capital Management Inc. bought a new position in Procter & Gamble in the 1st quarter valued at approximately $204,000. Gilbert & Cook Inc. boosted its position in Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock valued at $2,523,000 after buying an additional 1,237 shares in the last quarter. Finally, Mosley Wealth Management acquired a new position in shares of Procter & Gamble during the fourth quarter worth $537,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.2 %

NYSE PG opened at $173.55 on Monday. 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 Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.94. The business has a 50 day moving average price of $170.79 and a 200-day moving average price of $166.20. The company has a market cap of $409.60 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. As a group, equities analysts expect 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. Shareholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is 65.85%.

Insider Activity

In other news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on 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 approximately $1,902,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the transaction, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock worth $63,829,141 over the last quarter. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the topic of a number of research reports. TD Cowen assumed coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.89.

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.