Mengis Capital Management Inc. reduced its stake in Procter & Gamble Co (NYSE:PG) by 10.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,538 shares of the company’s stock after selling 3,379 shares during the period. Procter & Gamble makes up about 1.0% of Mengis Capital Management Inc.’s portfolio, making the stock its 29th biggest position. Mengis Capital Management Inc.’s holdings in Procter & Gamble were worth $3,564,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of PG. Belmont Capital LLC purchased a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $34,000. Selective Wealth Management Inc. purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at approximately $35,000. Wealthcare Capital Management LLC raised its position in Procter & Gamble by 126.0% in the fourth quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock valued at $42,000 after purchasing an additional 189 shares during the period. Pacifica Partners Inc. acquired a new position in Procter & Gamble in the fourth quarter valued at about $44,000. Finally, Lighthouse Financial Advisors Inc. acquired a new position in shares of Procter & Gamble in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.
PG has been the subject of several recent research reports. Stifel Nicolaus reissued a “hold” rating and issued a $119.00 price target on shares of Procter & Gamble in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on Procter & Gamble from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Macquarie increased their target price on shares of Procter & Gamble from $132.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Berenberg Bank restated a “hold” rating and set a $130.00 price target on shares of Procter & Gamble in a research note on Friday, January 24th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $136.00 price target on shares of Procter & Gamble in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $124.86.
Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, January 23rd. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. The firm had revenue of $18.24 billion for the quarter, compared to analyst estimates of $18.37 billion. Procter & Gamble had a return on equity of 27.14% and a net margin of 6.92%. Procter & Gamble’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. On average, research analysts expect that Procter & Gamble Co will post 4.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be issued a $0.7459 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.37%. Procter & Gamble’s payout ratio is currently 65.93%.
In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 1,729 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $122.00, for a total transaction of $210,938.00. Following the transaction, the chief executive officer now directly owns 6,856 shares of the company’s stock, valued at $836,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Taylor sold 58,297 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $125.93, for a total value of $7,341,341.21. Following the transaction, the chief executive officer now directly owns 284,069 shares in the company, valued at approximately $35,772,809.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,411 shares of company stock valued at $12,652,757. Company insiders own 1.75% of the company’s stock.
Procter & Gamble Profile
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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