Everence Capital Management Inc. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,946 shares of the company’s stock after selling 11,090 shares during the quarter. Procter & Gamble accounts for approximately 0.6% of Everence Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Everence Capital Management Inc.’s holdings in Procter & Gamble were worth $8,090,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. OLD Mission Capital LLC purchased a new position in Procter & Gamble in the 3rd quarter worth approximately $349,000. Morgan Stanley grew its holdings in shares of Procter & Gamble by 5.0% in the second quarter. Morgan Stanley now owns 34,500,719 shares of the company’s stock worth $4,655,181,000 after purchasing an additional 1,632,893 shares during the last quarter. Keudell Morrison Wealth Management increased its stake in shares of Procter & Gamble by 2.4% in the third quarter. Keudell Morrison Wealth Management now owns 9,450 shares of the company’s stock worth $1,321,000 after buying an additional 219 shares during the period. Center for Financial Planning Inc. raised its holdings in Procter & Gamble by 4.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 20,270 shares of the company’s stock valued at $2,834,000 after buying an additional 816 shares during the last quarter. Finally, EagleClaw Capital Managment LLC boosted its position in Procter & Gamble by 17.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 6,775 shares of the company’s stock valued at $946,000 after buying an additional 985 shares during the period. Hedge funds and other institutional investors own 63.64% of the company’s stock.
NYSE:PG opened at $136.37 on Wednesday. The firm’s 50-day moving average price is $150.09 and its 200-day moving average price is $154.56. The company has a market capitalization of $327.19 billion, a PE ratio of 23.80, a P/E/G ratio of 3.74 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.47. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35.
The company also recently declared a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Friday, April 22nd were paid a $0.9133 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Thursday, April 21st. This represents a $3.65 dividend on an annualized basis and a yield of 2.68%. Procter & Gamble’s payout ratio is presently 63.70%.
Several research firms recently issued reports on PG. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $175.00 in a research note on Tuesday, March 22nd. Evercore ISI set a $170.00 price objective on Procter & Gamble in a research report on Monday. Wells Fargo & Company decreased their target price on Procter & Gamble from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, June 1st. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. Finally, Barclays reduced their price objective on shares of Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $163.80.
In related news, Chairman David S. Taylor sold 60,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $164.52, for a total value of $9,871,200.00. Following the transaction, the chairman now owns 253,933 shares in the company, valued at approximately $41,777,057.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew W. Janzaruk sold 334 shares of the company’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $162.43, for a total transaction of $54,251.62. Following the completion of the transaction, the chief accounting officer now owns 1,220 shares in the company, valued at approximately $198,164.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,415 shares of company stock worth $17,777,055. 0.51% of the stock is currently owned by company insiders.
About Procter & Gamble (Get Rating)
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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