Townsend & Associates Inc bought a new stake in Procter & Gamble Co (NYSE:PG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,205 shares of the company’s stock, valued at approximately $1,474,000. Procter & Gamble makes up approximately 1.5% of Townsend & Associates Inc’s investment portfolio, making the stock its 18th biggest position.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in Procter & Gamble by 1,094.3% during the third quarter. Assenagon Asset Management S.A. now owns 736,699 shares of the company’s stock worth $67,025,000 after acquiring an additional 675,013 shares in the last quarter. Edgestream Partners L.P. raised its stake in Procter & Gamble by 21.9% during the third quarter. Edgestream Partners L.P. now owns 7,543 shares of the company’s stock worth $686,000 after acquiring an additional 1,356 shares in the last quarter. Asset Dedication LLC acquired a new position in Procter & Gamble during the fourth quarter worth $1,164,000. Spectrum Management Group Inc. raised its stake in Procter & Gamble by 221.4% during the third quarter. Spectrum Management Group Inc. now owns 32,757 shares of the company’s stock worth $2,980,000 after acquiring an additional 22,565 shares in the last quarter. Finally, Moller Financial Services raised its stake in Procter & Gamble by 31.3% during the fourth quarter. Moller Financial Services now owns 11,887 shares of the company’s stock worth $1,092,000 after acquiring an additional 2,837 shares in the last quarter. Institutional investors and hedge funds own 60.98% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs upgraded Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 price objective for the company in a research note on Tuesday, January 16th. Barclays set a $84.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research note on Thursday, March 15th. Vetr upgraded Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price objective for the company in a research note on Thursday, February 1st. Finally, SunTrust Banks reiterated a “hold” rating and set a $90.00 price objective on shares of Procter & Gamble in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $86.07.
Shares of PG stock opened at $78.43 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. The firm has a market cap of $199,285.36, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.57. Procter & Gamble Co has a 52 week low of $75.81 and a 52 week high of $94.67.
Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, January 23rd. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $17.40 billion for the quarter, compared to analysts’ expectations of $17.39 billion. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. equities analysts predict that Procter & Gamble Co will post 4.18 EPS for the current year.
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Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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