Sit Investment Associates Inc. Has $11.98 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Sit Investment Associates Inc. decreased its position in shares of The Procter & Gamble Company (NYSE:PG) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,960 shares of the company’s stock after selling 2,300 shares during the period. Sit Investment Associates Inc.’s holdings in Procter & Gamble were worth $11,981,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Strategic Financial Services Inc boosted its position in Procter & Gamble by 3.4% during the second quarter. Strategic Financial Services Inc now owns 7,785 shares of the company’s stock valued at $1,221,000 after purchasing an additional 258 shares during the last quarter. Beverly Hills Private Wealth LLC raised its holdings in Procter & Gamble by 2.0% during the second quarter. Beverly Hills Private Wealth LLC now owns 4,101 shares of the company’s stock valued at $637,000 after buying an additional 80 shares in the last quarter. Cetera Investment Advisers raised its holdings in Procter & Gamble by 4.3% during the second quarter. Cetera Investment Advisers now owns 186,203 shares of the company’s stock valued at $28,254,000 after buying an additional 7,654 shares in the last quarter. Summit X LLC raised its holdings in Procter & Gamble by 0.8% during the second quarter. Summit X LLC now owns 31,675 shares of the company’s stock valued at $4,808,000 after buying an additional 250 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Procter & Gamble by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 8,605,892 shares of the company’s stock valued at $1,305,779,000 after buying an additional 162,796 shares in the last quarter. Institutional investors and hedge funds own 63.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PG. StockNews.com upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a report on Monday, November 6th. HSBC initiated coverage on Procter & Gamble in a research note on Friday, September 22nd. They issued a “buy” rating and a $179.00 price objective on the stock. Jefferies Financial Group initiated coverage on Procter & Gamble in a research report on Monday. They set a “buy” rating and a $177.00 target price on the stock. DZ Bank raised Procter & Gamble from a “sell” rating to a “hold” rating and set a $155.00 target price on the stock in a research report on Friday, October 20th. Finally, Stifel Nicolaus decreased their target price on Procter & Gamble from $161.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.95.

Insider Buying and Selling

In related news, insider Moses Victor Javier Aguilar sold 789 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $152.85, for a total value of $120,598.65. Following the completion of the transaction, the insider now owns 12,683 shares in the company, valued at approximately $1,938,596.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 188 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $148.52, for a total transaction of $27,921.76. Following the completion of the sale, the chief accounting officer now owns 626 shares in the company, valued at approximately $92,973.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 789 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $152.85, for a total transaction of $120,598.65. Following the sale, the insider now owns 12,683 shares of the company’s stock, valued at approximately $1,938,596.55. The disclosure for this sale can be found here. Insiders sold 105,715 shares of company stock worth $16,025,205 in the last quarter. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 0.2 %

Shares of PG opened at $152.13 on Wednesday. The company has a market capitalization of $358.55 billion, a P/E ratio of 24.70, a PEG ratio of 3.16 and a beta of 0.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.67 and a quick ratio of 0.48. The Procter & Gamble Company has a one year low of $135.83 and a one year high of $158.38. The business’s 50 day simple moving average is $149.35 and its 200-day simple moving average is $150.75.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, October 18th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.71 by $0.12. The business had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $21.58 billion. Procter & Gamble had a return on equity of 33.49% and a net margin of 18.30%. Procter & Gamble’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.42 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 20th will be given a $0.9407 dividend. This represents a $3.76 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 61.04%.

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.