Schulhoff & Co. Inc. Trims Stake in Procter & Gamble Co (NYSE:PG)

Schulhoff & Co. Inc. cut its holdings in shares of Procter & Gamble Co (NYSE:PG) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 257,974 shares of the company’s stock after selling 3,175 shares during the period. Procter & Gamble makes up approximately 18.1% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its largest holding. Schulhoff & Co. Inc.’s holdings in Procter & Gamble were worth $30,846,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PG. Morgan Stanley lifted its holdings in Procter & Gamble by 54.8% during the first quarter. Morgan Stanley now owns 20,883,111 shares of the company’s stock worth $2,297,142,000 after acquiring an additional 7,392,929 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Procter & Gamble by 72.2% during the first quarter. Janus Henderson Group PLC now owns 10,768,053 shares of the company’s stock worth $1,184,519,000 after acquiring an additional 4,515,204 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Procter & Gamble by 66.4% during the first quarter. Franklin Resources Inc. now owns 10,508,172 shares of the company’s stock worth $1,155,899,000 after acquiring an additional 4,191,966 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Procter & Gamble by 10.2% in the first quarter. Wellington Management Group LLP now owns 28,092,901 shares of the company’s stock valued at $3,090,220,000 after purchasing an additional 2,609,549 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Procter & Gamble by 20.0% in the first quarter. Alliancebernstein L.P. now owns 12,781,490 shares of the company’s stock valued at $1,405,964,000 after purchasing an additional 2,133,631 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Procter & Gamble stock opened at $131.12 on Friday. Procter & Gamble Co has a 12 month low of $94.34 and a 12 month high of $132.03. The stock’s 50 day moving average is $121.39 and its 200-day moving average is $119.14. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $325.35 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.44 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, July 30th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. Procter & Gamble had a return on equity of 29.38% and a net margin of 18.36%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $16.97 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Procter & Gamble Co will post 5.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 24th will be given a $0.7907 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 23rd. Procter & Gamble’s payout ratio is 61.72%.

A number of brokerages have recently commented on PG. SunTrust Banks boosted their price target on Procter & Gamble from $115.00 to $120.00 in a report on Wednesday, July 22nd. Bank of America reaffirmed a “buy” rating and issued a $135.00 target price on shares of Procter & Gamble in a research report on Saturday, April 18th. TheStreet raised Procter & Gamble from a “c+” rating to a “b” rating in a research report on Tuesday, April 14th. Jefferies Financial Group lifted their target price on Procter & Gamble from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Citigroup boosted their price target on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $133.67.

In related news, CFO Jon R. Moeller sold 130,626 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Taylor sold 30,000 shares of the business’s stock in a transaction that occurred 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. Over the last quarter, insiders sold 1,570,603 shares of company stock valued at $179,504,390. 1.75% of the stock is currently owned by corporate insiders.

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.

Further Reading: How to calculate the intrinsic value of a stock

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

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