Beaton Management Co. Inc. cut its stake in shares of Procter & Gamble Co (NYSE:PG) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,510 shares of the company’s stock after selling 303 shares during the period. Procter & Gamble comprises approximately 2.6% of Beaton Management Co. Inc.’s holdings, making the stock its 4th largest position. Beaton Management Co. Inc.’s holdings in Procter & Gamble were worth $3,205,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ST Germain D J Co. Inc. boosted its position in Procter & Gamble by 3.2% during the second quarter. ST Germain D J Co. Inc. now owns 238,097 shares of the company’s stock worth $18,586,000 after purchasing an additional 7,486 shares during the period. Convergence Investment Partners LLC boosted its position in Procter & Gamble by 56.0% during the second quarter. Convergence Investment Partners LLC now owns 20,505 shares of the company’s stock worth $1,601,000 after purchasing an additional 7,361 shares during the period. Arizona State Retirement System boosted its position in Procter & Gamble by 0.7% during the second quarter. Arizona State Retirement System now owns 657,844 shares of the company’s stock worth $51,351,000 after purchasing an additional 4,302 shares during the period. Day & Ennis LLC boosted its position in Procter & Gamble by 435.2% during the second quarter. Day & Ennis LLC now owns 60,902 shares of the company’s stock worth $4,754,000 after purchasing an additional 49,523 shares during the period. Finally, Gideon Capital Advisors Inc. bought a new stake in Procter & Gamble during the second quarter worth approximately $1,624,000. Institutional investors and hedge funds own 60.74% of the company’s stock.
Shares of PG stock opened at $101.32 on Friday. Procter & Gamble Co has a 12 month low of $70.73 and a 12 month high of $101.78. The company has a market cap of $252.23 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 3.26 and a beta of 0.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.78 and a quick ratio of 0.61.
The company also recently announced a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, January 18th were paid a $0.7172 dividend. The ex-dividend date was Thursday, January 17th. This represents a $2.87 dividend on an annualized basis and a dividend yield of 2.83%. Procter & Gamble’s payout ratio is 68.01%.
PG has been the subject of a number of recent analyst reports. Bank of America raised Procter & Gamble from a “neutral” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Thursday, December 13th. Citigroup upped their target price on Procter & Gamble from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, December 10th. Zacks Investment Research raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Wednesday, December 19th. Scotiabank reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Wednesday, January 30th. Finally, Macquarie set a $110.00 target price on Procter & Gamble and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.21.
In related news, insider Gary A. Coombe sold 9,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $93.90, for a total value of $845,100.00. Following the completion of the transaction, the insider now directly owns 18,517 shares in the company, valued at $1,738,746.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jon R. Moeller sold 3,224 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $98.57, for a total value of $317,789.68. The disclosure for this sale can be found here. Insiders sold 2,270,496 shares of company stock valued at $224,931,027 over the last 90 days. 1.84% of the stock is currently owned by corporate insiders.
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Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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