Eukles Asset Management boosted its position in Procter & Gamble Co (NYSE:PG) by 67.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,189 shares of the company’s stock after buying an additional 479 shares during the period. Eukles Asset Management’s holdings in Procter & Gamble were worth $142,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Mattern Wealth Management LLC increased its holdings in Procter & Gamble by 3.3% during the 2nd quarter. Mattern Wealth Management LLC now owns 20,518 shares of the company’s stock worth $2,453,000 after purchasing an additional 647 shares in the last quarter. Main Street Research LLC increased its holdings in Procter & Gamble by 1.8% during the 2nd quarter. Main Street Research LLC now owns 367,679 shares of the company’s stock worth $43,963,000 after purchasing an additional 6,410 shares in the last quarter. Sciencast Management LP increased its holdings in Procter & Gamble by 51.1% during the 2nd quarter. Sciencast Management LP now owns 23,643 shares of the company’s stock worth $2,951,000 after purchasing an additional 7,993 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Procter & Gamble during the 2nd quarter worth approximately $25,876,000. Finally, SlateStone Wealth LLC increased its holdings in Procter & Gamble by 3.7% during the 2nd quarter. SlateStone Wealth LLC now owns 16,666 shares of the company’s stock worth $1,992,000 after purchasing an additional 592 shares in the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on PG. Citigroup boosted their price objective on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Jefferies Financial Group boosted their price objective on Procter & Gamble from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Bank of America reissued a “buy” rating and set a $135.00 price objective on shares of Procter & Gamble in a report on Saturday, April 18th. SunTrust Banks boosted their target price on Procter & Gamble from $115.00 to $120.00 in a research note on Wednesday, July 22nd. Finally, Morgan Stanley boosted their target price on Procter & Gamble from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Procter & Gamble has an average rating of “Buy” and a consensus target price of $133.67.
Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, July 30th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $16.97 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Procter & Gamble Co will post 5.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 24th will be issued a $0.7907 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $3.16 annualized dividend and a dividend yield of 2.41%. Procter & Gamble’s payout ratio is currently 61.72%.
In related news, CFO Jon R. Moeller sold 130,626 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $116.37, for a total value of $15,200,947.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Taylor sold 30,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $115.47, for a total value of $3,464,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,570,603 shares of company stock worth $179,504,390. 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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