Eagle Asset Management Inc. Decreases Stock Position in Procter & Gamble Co (NYSE:PG)

Eagle Asset Management Inc. trimmed its stake in shares of Procter & Gamble Co (NYSE:PG) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,396,061 shares of the company’s stock after selling 152,614 shares during the quarter. Procter & Gamble accounts for about 0.9% of Eagle Asset Management Inc.’s holdings, making the stock its 8th largest position. Eagle Asset Management Inc. owned about 0.06% of Procter & Gamble worth $173,642,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Slow Capital Inc. boosted its holdings in shares of Procter & Gamble by 3.9% in the 2nd quarter. Slow Capital Inc. now owns 2,317 shares of the company’s stock worth $254,000 after purchasing an additional 86 shares in the last quarter. AMI Asset Management Corp boosted its holdings in shares of Procter & Gamble by 0.7% in the 3rd quarter. AMI Asset Management Corp now owns 13,431 shares of the company’s stock worth $1,671,000 after purchasing an additional 87 shares in the last quarter. Stony Point Wealth Management Inc. boosted its holdings in shares of Procter & Gamble by 0.7% in the 2nd quarter. Stony Point Wealth Management Inc. now owns 12,805 shares of the company’s stock worth $1,485,000 after purchasing an additional 91 shares in the last quarter. Centric Wealth Management boosted its holdings in shares of Procter & Gamble by 0.9% in the 3rd quarter. Centric Wealth Management now owns 10,692 shares of the company’s stock worth $1,295,000 after purchasing an additional 91 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its holdings in shares of Procter & Gamble by 1.5% in the 3rd quarter. First Mercantile Trust Co. now owns 6,164 shares of the company’s stock worth $767,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 65.62% of the company’s stock.

A number of equities analysts have recently issued reports on PG shares. Wells Fargo & Co upped their price objective on Procter & Gamble from $135.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Goldman Sachs Group reiterated a “buy” rating and issued a $136.00 price objective on shares of Procter & Gamble in a report on Wednesday, October 23rd. SunTrust Banks boosted their target price on Procter & Gamble to $120.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on Procter & Gamble from $130.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus set a $117.00 target price on Procter & Gamble and gave the company a “hold” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $115.00.

NYSE PG opened at $119.70 on Friday. Procter & Gamble Co has a 1-year low of $86.74 and a 1-year high of $125.77. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $121.95 and a 200-day moving average of $115.01. The firm has a market cap of $296.51 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.23 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $17.80 billion during the quarter, compared to analyst estimates of $17.43 billion. Procter & Gamble had a return on equity of 25.07% and a net margin of 6.24%. Procter & Gamble’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, equities research analysts forecast that Procter & Gamble Co will post 4.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, October 17th. Procter & Gamble’s payout ratio is 65.93%.

In other Procter & Gamble news, Director Nelson Peltz sold 206,967 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $124.40, for a total transaction of $25,746,694.80. Following the completion of the transaction, the director now owns 3,844 shares of the company’s stock, valued at approximately $478,193.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 26,075 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $124.96, for a total value of $3,258,332.00. Following the transaction, the insider now directly owns 139,066 shares of the company’s stock, valued at approximately $17,377,687.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,645,966 shares of company stock valued at $202,229,770 in the last ninety days. 1.75% of the stock is currently owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company 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 Procter & Gamble (NYSE:PG)

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