Steel Grove Capital Advisors LLC Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Steel Grove Capital Advisors LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 51.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,254 shares of the company’s stock after selling 2,373 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Procter & Gamble were worth $372,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PG. HighPoint Advisor Group LLC purchased a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $17,696,000. Bayesian Capital Management LP grew its position in shares of Procter & Gamble by 43.0% in the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after purchasing an additional 15,900 shares during the period. Steele Capital Management Inc. acquired a new position in Procter & Gamble in the first quarter valued at $204,000. Gilbert & Cook Inc. lifted its position in Procter & Gamble by 7.7% during the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock worth $2,523,000 after buying an additional 1,237 shares during the period. Finally, Mosley Wealth Management acquired a new stake in Procter & Gamble in the 4th quarter worth about $537,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. TD Cowen began coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, DZ Bank upgraded 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. Seven investment 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Insider Activity at Procter & Gamble

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

Procter & Gamble Trading Down 0.3 %

Shares of NYSE:PG opened at $173.77 on Tuesday. The stock has a market capitalization 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. The company’s 50-day moving average price is $170.40 and its two-hundred day moving average price is $165.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping 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 in the previous year, the firm earned $1.37 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company 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 of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. 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.