Brighton Jones LLC Trims Holdings in The Procter & Gamble Company (NYSE:PG)

Brighton Jones LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.8% in the third quarter, Holdings Channel reports. The firm owned 26,451 shares of the company’s stock after selling 2,555 shares during the period. Brighton Jones LLC’s holdings in Procter & Gamble were worth $4,581,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble during the 2nd quarter worth $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble during the 2nd quarter worth about $29,000. Ruedi Wealth Management Inc. increased its position in Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $36,000. 65.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent research reports. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson upped their price objective on Procter & Gamble from $159.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley raised their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $169.58 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company’s 50 day moving average is $171.88 and its 200 day moving average is $167.45. The company has a market cap of $400.23 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter last year, the company posted $1.83 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jon R. Moeller sold 72,174 shares of Procter & Gamble stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,186 shares of company stock worth $65,479,358. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Profile

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.