Klingenstein Fields & Co. LP Sells 2,961 Shares of Procter & Gamble Company (The) (NYSE:PG)
by Doug Wharley · The Cerbat GemKlingenstein Fields & Co. LP trimmed its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,203 shares of the company’s stock after selling 2,961 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Procter & Gamble were worth $6,170,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Norges Bank bought a new position in shares of Procter & Gamble in the 4th quarter valued at $5,244,463,000. GAMMA Investing LLC raised its position in shares of Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Procter & Gamble in the 4th quarter worth approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on PG. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Raymond James Financial decreased their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. reduced their target price on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $178.45.
View Our Latest Report on Procter & Gamble
Procter & Gamble Trading Up 1.2%
NYSE PG opened at $161.20 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $377.94 billion, a P/E ratio of 25.59, a PEG ratio of 4.70 and a beta of 0.41. The business has a fifty day simple moving average of $162.17 and a 200 day simple moving average of $165.47. Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43.
Procter & Gamble (NYSE:PG – Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.62%. Procter & Gamble’s dividend payout ratio (DPR) is 67.14%.
Insider Activity at Procter & Gamble
In other news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer directly owned 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider directly owned 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.
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 and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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