Corundum Group Inc. Has $1.28 Million Stake in The Procter & Gamble Company (NYSE:PG)

Corundum Group Inc. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 31.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,395 shares of the company’s stock after selling 3,316 shares during the quarter. Corundum Group Inc.’s holdings in Procter & Gamble were worth $1,281,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Legal & General Group Plc raised its stake in shares of Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares during the period. Dimensional Fund Advisors LP lifted its stake in Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Procter & Gamble by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after acquiring an additional 545,601 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after acquiring an additional 79,665 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Procter & Gamble by 3.9% in the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after purchasing an additional 216,300 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Procter & Gamble Stock Down 0.6 %

Procter & Gamble stock opened at $171.28 on Monday. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The stock has a market cap of $404.24 billion, a P/E ratio of 27.99, a P/E/G ratio of 3.74 and a beta of 0.41. The company’s 50-day moving average price is $171.77 and its two-hundred day moving average price is $167.24. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares in the company, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock worth $65,140,718 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.