Resources Management Corp CT ADV bought a new stake in shares of Procter & Gamble Co (NYSE:PG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 100,997 shares of the company’s stock, valued at approximately $12,562,000. Procter & Gamble accounts for about 2.3% of Resources Management Corp CT ADV’s portfolio, making the stock its 8th biggest holding.
A number of other hedge funds have also modified their holdings of PG. Metropolitan Life Insurance Co NY grew its position in shares of Procter & Gamble by 1.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 381,631 shares of the company’s stock valued at $47,467,000 after purchasing an additional 7,126 shares in the last quarter. Man Group plc boosted its stake in Procter & Gamble by 183.9% during the third quarter. Man Group plc now owns 1,504,458 shares of the company’s stock valued at $187,125,000 after buying an additional 974,555 shares during the period. Michael & Susan Dell Foundation purchased a new position in Procter & Gamble during the third quarter worth about $486,000. Prestige Wealth Management Group LLC increased its stake in Procter & Gamble by 4.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,666 shares of the company’s stock worth $456,000 after acquiring an additional 146 shares during the last quarter. Finally, Signet Financial Management LLC increased its stake in Procter & Gamble by 0.7% in the 3rd quarter. Signet Financial Management LLC now owns 14,624 shares of the company’s stock worth $1,745,000 after acquiring an additional 104 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Wells Fargo & Co lifted their price target on Procter & Gamble from $135.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Procter & Gamble from $130.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of Procter & Gamble from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. ValuEngine lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $136.00 price target on shares of Procter & Gamble in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Procter & Gamble presently has an average rating of “Hold” and a consensus target price of $116.71.
Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, October 22nd. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. The company had revenue of $17.80 billion for the quarter, compared to analyst estimates of $17.43 billion. Procter & Gamble had a net margin of 6.24% and a return on equity of 25.07%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. Research analysts anticipate that Procter & Gamble Co will post 4.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.7459 per share. The ex-dividend date was Thursday, October 17th. This represents a $2.98 annualized dividend and a yield of 2.40%. Procter & Gamble’s payout ratio is 65.93%.
In related news, CEO Marylynn Fergusonmchugh sold 2,680 shares of Procter & Gamble stock in a transaction on Monday, October 14th. The shares were sold at an average price of $119.93, for a total value of $321,412.40. Following the transaction, the chief executive officer now directly owns 84,901 shares of the company’s stock, valued at $10,182,176.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Valarie L. Sheppard sold 26,297 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $124.07, for a total transaction of $3,262,668.79. Following the sale, the vice president now owns 51,694 shares of the company’s stock, valued at $6,413,674.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,291,193 shares of company stock valued at $160,055,664. Company insiders own 1.75% of the company’s stock.
Procter & Gamble Company 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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