Iberiabank Corp Decreases Stake in Procter & Gamble Co (NYSE:PG)

Iberiabank Corp reduced its position in Procter & Gamble Co (NYSE:PG) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,956 shares of the company’s stock after selling 8,773 shares during the quarter. Procter & Gamble comprises about 1.7% of Iberiabank Corp’s holdings, making the stock its 10th biggest holding. Iberiabank Corp’s holdings in Procter & Gamble were worth $14,224,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eukles Asset Management raised its position in shares of Procter & Gamble by 67.5% in the second quarter. Eukles Asset Management now owns 1,189 shares of the company’s stock worth $142,000 after buying an additional 479 shares in the last quarter. Mattern Wealth Management LLC grew its position in Procter & Gamble by 3.3% during the second quarter. Mattern Wealth Management LLC now owns 20,518 shares of the company’s stock worth $2,453,000 after buying an additional 647 shares in the last quarter. Main Street Research LLC increased its stake in Procter & Gamble by 1.8% in the 2nd quarter. Main Street Research LLC now owns 367,679 shares of the company’s stock worth $43,963,000 after acquiring an additional 6,410 shares during the last quarter. Sciencast Management LP raised its holdings in shares of Procter & Gamble by 51.1% in the 2nd quarter. Sciencast Management LP now owns 23,643 shares of the company’s stock valued at $2,951,000 after acquiring an additional 7,993 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $25,876,000. Institutional investors own 63.33% of the company’s stock.

Shares of Procter & Gamble stock opened at $131.12 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.85 and a quick ratio of 0.66. Procter & Gamble Co has a one year low of $94.34 and a one year high of $132.03. The business’s 50 day simple moving average is $121.39 and its two-hundred day simple moving average is $119.14. The stock has a market capitalization of $325.35 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 3.44 and a beta of 0.42.

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, topping the consensus estimate of $1.01 by $0.15. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $16.97 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that Procter & Gamble Co will post 5.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 24th will be issued a $0.7907 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Thursday, July 23rd. Procter & Gamble’s dividend payout ratio (DPR) is presently 61.72%.

Several brokerages have issued reports on PG. TheStreet upgraded shares of Procter & Gamble from a “c+” rating to a “b” rating in a research report on Tuesday, April 14th. Deutsche Bank lifted their price objective on shares of Procter & Gamble from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Stifel Nicolaus increased their target price on Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Bank of America reaffirmed a “buy” rating and set a $135.00 price target on shares of Procter & Gamble in a research note on Saturday, April 18th. Finally, Jefferies Financial Group increased their price objective on Procter & Gamble from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $133.67.

In other Procter & Gamble news, Director Nelson Peltz sold 404,714 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $113.01, for a total value of $45,736,729.14. Following the completion of the sale, the director now owns 3,891 shares in the company, valued at approximately $439,721.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jon R. Moeller sold 130,626 shares of Procter & Gamble stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 1,570,603 shares of company stock worth $179,504,390 in the last 90 days. Corporate insiders own 1.75% of the company’s stock.

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

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