Burgundy Asset Management Ltd. Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Burgundy Asset Management Ltd. trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 967,711 shares of the company’s stock after selling 9,745 shares during the period. Procter & Gamble makes up about 1.7% of Burgundy Asset Management Ltd.’s holdings, making the stock its 22nd largest holding. Burgundy Asset Management Ltd.’s holdings in Procter & Gamble were worth $159,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Wulff Hansen & CO. boosted its position in shares of Procter & Gamble by 16,292.0% during the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after purchasing an additional 3,653,477 shares during the period. TD Asset Management Inc increased its stake in Procter & Gamble by 114.9% during the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after purchasing an additional 1,907,716 shares during the period. Swedbank AB acquired a new stake in shares of Procter & Gamble during the first quarter worth about $233,788,000. Ilex Capital Partners UK LLP purchased a new position in shares of Procter & Gamble in the first quarter valued at approximately $228,212,000. Finally, Capital Research Global Investors grew its holdings 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 valued at $902,254,000 after purchasing an additional 1,089,102 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Down 1.1 %

Shares of NYSE PG opened at $173.91 on Thursday. The business has a 50-day moving average price of $169.94 and a 200 day moving average price of $165.55. The stock has a market cap of $410.45 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. 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.

Procter & Gamble (NYSE:PG) last posted 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 during the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.31%. Procter & Gamble’s payout ratio is 65.85%.

Insider Transactions at Procter & Gamble

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

Analysts Set New Price Targets

Several equities analysts have commented on PG shares. Evercore ISI raised their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their target price on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.79.

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.