1832 Asset Management L.P. Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

1832 Asset Management L.P. raised its holdings in The Procter & Gamble Company (NYSE:PG) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 848,352 shares of the company’s stock after buying an additional 1,458 shares during the quarter. 1832 Asset Management L.P.’s holdings in Procter & Gamble were worth $139,910,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the second quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $31,000. Ruedi Wealth Management Inc. increased its holdings in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble in the second quarter valued at about $34,000. Finally, Vima LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $35,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction 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 sale, the insider now directly 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 valued at $63,829,141 over the last quarter. 0.17% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $174.22 on Friday. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94. The company has a market cap of $411.18 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.84 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The business’s 50 day moving average price is $170.21 and its 200 day moving average price is $165.74.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $20.69 billion. During the same quarter last year, the business posted $1.37 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business 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. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.31%. Procter & Gamble’s payout ratio is 65.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PG. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and cut their price objective for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Evercore ISI raised their target price on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Royal Bank of Canada raised their target price on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Barclays dropped their target price on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.16.

Procter & Gamble 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.