Sciencast Management LP raised its stake in shares of Procter & Gamble Co (NYSE:PG) by 51.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,643 shares of the company’s stock after purchasing an additional 7,993 shares during the quarter. Procter & Gamble comprises 0.7% of Sciencast Management LP’s holdings, making the stock its 20th biggest position. Sciencast Management LP’s holdings in Procter & Gamble were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of PG. New England Investment & Retirement Group Inc. acquired a new stake in shares of Procter & Gamble in the first quarter worth $28,000. Magellan Asset Management Ltd acquired a new stake in Procter & Gamble during the first quarter valued at $29,000. Costello Asset Management INC acquired a new stake in Procter & Gamble during the second quarter valued at $35,000. Efficient Wealth Management LLC acquired a new stake in Procter & Gamble during the first quarter valued at $39,000. Finally, Barnett & Company Inc. grew its position in Procter & Gamble by 23.4% during the second quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock valued at $54,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.
Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Procter & Gamble from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup raised their price target on shares of Procter & Gamble from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Deutsche Bank raised their price target on shares of Procter & Gamble from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Stifel Nicolaus raised their price target on shares of Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, TheStreet raised shares of Procter & Gamble from a “c+” rating to a “b” rating in a report on Tuesday, April 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $133.67.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.15. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $16.97 billion. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. On average, analysts expect that Procter & Gamble Co will post 5.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 24th will be given a dividend of $0.7907 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 23rd. Procter & Gamble’s dividend payout ratio is presently 61.72%.
In other news, Director Nelson Peltz sold 1,005,263 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $114.50, for a total transaction of $115,102,613.50. Following the completion of the sale, the director now owns 3,891 shares in the company, valued at approximately $445,519.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Taylor sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $115.47, for a total transaction of $3,464,100.00. The disclosure for this sale can be found here. Insiders sold 1,570,603 shares of company stock valued at $179,504,390 in the last 90 days. Company 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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