Hamlin Capital Management LLC lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 688,696 shares of the company’s stock after selling 5,779 shares during the quarter. Procter & Gamble accounts for about 3.8% of Hamlin Capital Management LLC’s portfolio, making the stock its 10th biggest position. Hamlin Capital Management LLC’s holdings in Procter & Gamble were worth $96,280,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PG. Paragon Wealth Strategies LLC bought a new position in shares of Procter & Gamble during the second quarter worth about $33,000. KB Financial Partners LLC bought a new position in Procter & Gamble in the first quarter valued at $41,000. Monumental Financial Group Inc. acquired a new stake in Procter & Gamble in the 2nd quarter valued at $47,000. Aspire Private Capital LLC lifted its position in Procter & Gamble by 85.3% during the 1st quarter. Aspire Private Capital LLC now owns 430 shares of the company’s stock worth $58,000 after buying an additional 198 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble in the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 62.94% of the company’s stock.
In other news, Chairman David S. Taylor sold 50,000 shares of the stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $146.00, for a total transaction of $7,300,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nelson Peltz sold 207,000 shares of the company’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $142.43, for a total value of $29,483,010.00. The disclosure for this sale can be found here. Insiders have sold 358,249 shares of company stock valued at $51,740,197 over the last quarter. Company insiders own 0.51% of the company’s stock.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Monday, October 18th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.02. The company had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $19.87 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 31.49%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. On average, equities analysts predict that The Procter & Gamble Company will post 5.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Friday, October 22nd were paid a dividend of $0.8698 per share. The ex-dividend date of this dividend was Thursday, October 21st. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble’s payout ratio is presently 63.62%.
A number of analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Procter & Gamble from $130.00 to $139.00 and gave the company a “sector perform” rating in a research note on Monday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Procter & Gamble from $163.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, October 20th. Berenberg Bank reiterated a “hold” rating and issued a $146.00 price objective on shares of Procter & Gamble in a report on Wednesday, October 20th. Truist Securities raised their target price on shares of Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Monday, August 2nd. Finally, Citigroup upped their target price on Procter & Gamble from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.41.
Procter & Gamble Company Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
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