Ern LLC Takes $4.67 Million Position in The Procter & Gamble Company (NYSE:PG)

Ern LLC purchased a new position in The Procter & Gamble Company (NYSE:PGGet Rating) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 32,500 shares of the company’s stock, valued at approximately $4,673,000. Procter & Gamble makes up about 5.2% of Ern LLC’s investment portfolio, making the stock its 2nd largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Procter & Gamble in the 4th quarter valued at $3,726,603,000. GQG Partners LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth $1,231,791,000. CFS Investment Advisory Services LLC lifted its stake in shares of Procter & Gamble by 15,150.1% during the 1st quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock worth $642,000 after purchasing an additional 4,048,566 shares during the last quarter. Boston Partners lifted its stake in shares of Procter & Gamble by 14,217.6% during the 1st quarter. Boston Partners now owns 3,415,888 shares of the company’s stock worth $522,695,000 after purchasing an additional 3,392,030 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Procter & Gamble by 330.5% in the first quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock valued at $515,242,000 after buying an additional 2,588,640 shares during the last quarter. 63.45% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG opened at $136.21 on Friday. The stock has a market cap of $324.93 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.49 and a beta of 0.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $142.58 and its 200 day simple moving average is $147.19. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. During the same period in the prior year, the company earned $1.13 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were paid a dividend of $0.913 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, July 21st. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Insiders Place Their Bets

In related news, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total value of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at approximately $580,770.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jon R. Moeller sold 169,365 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $146.56, for a total value of $24,822,134.40. Following the transaction, the chief executive officer now directly owns 164,761 shares of the company’s stock, valued at approximately $24,147,372.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $145.12, for a total value of $232,046.88. Following the completion of the sale, the chief executive officer now owns 4,002 shares of the company’s stock, valued at $580,770.24. The disclosure for this sale can be found here. Insiders have sold a total of 289,321 shares of company stock valued at $42,559,426 in the last quarter. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PG has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Barclays lowered their price target on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Evercore ISI set a $170.00 target price on Procter & Gamble in a research report on Monday, June 20th. Finally, UBS Group reduced their price objective on Procter & Gamble to $153.00 in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Profile

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

See Also

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

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