Rockland Trust Co. lifted its stake in Procter & Gamble Co (NYSE:PG) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,338 shares of the company’s stock after buying an additional 4,210 shares during the period. Rockland Trust Co.’s holdings in Procter & Gamble were worth $8,943,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of PG. Beach Investment Management LLC. acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $6,942,000. First Capital Advisors Group LLC. increased its holdings in Procter & Gamble by 1.5% during the 2nd quarter. First Capital Advisors Group LLC. now owns 23,396 shares of the company’s stock valued at $2,039,000 after purchasing an additional 346 shares in the last quarter. Sterling Global Strategies LLC increased its holdings in Procter & Gamble by 0.4% during the 2nd quarter. Sterling Global Strategies LLC now owns 11,247 shares of the company’s stock valued at $980,000 after purchasing an additional 47 shares in the last quarter. Pekin Singer Strauss Asset Management IL increased its holdings in Procter & Gamble by 16.0% during the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 13,519 shares of the company’s stock valued at $1,178,000 after purchasing an additional 1,865 shares in the last quarter. Finally, Keystone Financial Planning Inc. increased its holdings in Procter & Gamble by 162.8% during the 2nd quarter. Keystone Financial Planning Inc. now owns 57,292 shares of the company’s stock valued at $4,993,000 after purchasing an additional 35,490 shares in the last quarter. 61.05% of the stock is owned by institutional investors and hedge funds.
In other news, insider Marc S. Pritchard sold 46,842 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $89.01, for a total value of $4,169,406.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Deborah P. Majoras sold 4,591 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $87.48, for a total value of $401,620.68. The disclosure for this sale can be found here. Insiders sold a total of 114,011 shares of company stock worth $9,710,976 over the last quarter. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.05. The firm had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.39 billion. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. equities research analysts predict that Procter & Gamble Co will post 4.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, January 19th were given a $0.6896 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $2.76 dividend on an annualized basis and a yield of 3.46%. Procter & Gamble’s payout ratio is 70.23%.
A number of equities research analysts recently weighed in on the company. Berenberg Bank assumed coverage on Procter & Gamble in a report on Wednesday, February 28th. They set a “sell” rating and a $78.50 price target for the company. Stifel Nicolaus raised their price target on Procter & Gamble from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Vetr raised Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price target for the company in a report on Thursday, February 1st. SunTrust Banks reaffirmed a “hold” rating and set a $90.00 price target on shares of Procter & Gamble in a report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. raised their price target on Procter & Gamble from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $87.37.
Procter & Gamble Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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