DAVENPORT & Co LLC Has $20.24 Million Holdings in The Procter & Gamble Company (NYSE:PG)


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DAVENPORT & Co LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,411 shares of the company’s stock after selling 1,524 shares during the period. DAVENPORT & Co LLC’s holdings in The Procter & Gamble were worth $20,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Emerson Wealth Management LLC acquired a new position in The Procter & Gamble in the 1st quarter worth $26,000. MD Financial Management Inc. bought a new stake in The Procter & Gamble during the 4th quarter worth about $28,000. Greenhouse Wealth Management LLC bought a new stake in The Procter & Gamble during the 4th quarter worth about $31,000. Luken Investment Analytics LLC bought a new stake in The Procter & Gamble during the 4th quarter worth about $34,000. Finally, Flagship Private Wealth LLC bought a new stake in The Procter & Gamble during the 4th quarter worth about $36,000. 63.05% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Deborah P. Majoras sold 12,872 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $135.47, for a total value of $1,743,769.84. Also, CEO Steven D. Bishop sold 3,173 shares of the business’s stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $125.77, for a total transaction of $399,068.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 560,215 shares of company stock worth $72,179,449. 0.70% of the stock is owned by corporate insiders.

PG stock opened at $135.00 on Tuesday. The company has a fifty day moving average price of $133.89 and a 200-day moving average price of $134.79. The company has a market capitalization of $330.51 billion, a P/E ratio of 25.81, a PEG ratio of 3.25 and a beta of 0.38. The Procter & Gamble Company has a 52-week low of $111.25 and a 52-week high of $146.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.87.

The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Monday, April 19th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.07. The firm had revenue of $18.10 billion during the quarter, compared to the consensus estimate of $18 billion. The Procter & Gamble had a net margin of 18.92% and a return on equity of 30.69%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 5.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Friday, April 23rd will be issued a dividend of $0.8698 per share. The ex-dividend date of this dividend is Thursday, April 22nd. This is a boost from The Procter & Gamble’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a yield of 2.58%. The Procter & Gamble’s payout ratio is 67.97%.

Several equities research analysts have commented on PG shares. Sanford C. Bernstein started coverage on shares of The Procter & Gamble in a research report on Tuesday, January 19th. They set a “market perform” rating and a $149.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Procter & Gamble from $159.00 to $158.00 and set a “buy” rating on the stock in a research report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and set a $150.00 price target (down from $165.00) on shares of The Procter & Gamble in a research report on Tuesday, April 27th. JPMorgan Chase & Co. dropped their target price on shares of The Procter & Gamble from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, April 22nd. Finally, Stifel Nicolaus cut shares of The Procter & Gamble from a “buy” rating to a “hold” rating and set a $141.00 target price on the stock. in a report on Thursday, January 28th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $148.93.

About The Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for The Procter & Gamble (NYSE:PG)

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