Buckingham Capital Management Inc. Reduces Position in Procter & Gamble Co (PG)

Buckingham Capital Management Inc. lowered its stake in Procter & Gamble Co (NYSE:PG) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,211 shares of the company’s stock after selling 2,317 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Procter & Gamble were worth $2,182,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PG. Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its stake in shares of Procter & Gamble by 17.1% during the 3rd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 85,146 shares of the company’s stock worth $7,087,000 after acquiring an additional 12,410 shares during the last quarter. Whitener Capital Management Inc. boosted its stake in shares of Procter & Gamble by 4.4% during the 2nd quarter. Whitener Capital Management Inc. now owns 25,952 shares of the company’s stock worth $2,025,000 after acquiring an additional 1,084 shares during the last quarter. Chemical Bank boosted its stake in shares of Procter & Gamble by 2.0% during the 3rd quarter. Chemical Bank now owns 107,731 shares of the company’s stock worth $8,966,000 after acquiring an additional 2,141 shares during the last quarter. Peoples Financial Services CORP. boosted its stake in shares of Procter & Gamble by 7.4% during the 3rd quarter. Peoples Financial Services CORP. now owns 69,301 shares of the company’s stock worth $5,767,000 after acquiring an additional 4,775 shares during the last quarter. Finally, Truepoint Inc. boosted its stake in shares of Procter & Gamble by 1,148.6% during the 2nd quarter. Truepoint Inc. now owns 299,861 shares of the company’s stock worth $23,407,000 after acquiring an additional 275,846 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.

Shares of NYSE PG opened at $102.44 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.78. The firm has a market capitalization of $258.25 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 3.26 and a beta of 0.38. Procter & Gamble Co has a 52-week low of $70.73 and a 52-week high of $102.89.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $17.44 billion for the quarter, compared to the consensus estimate of $17.16 billion. Procter & Gamble had a net margin of 16.13% and a return on equity of 21.41%. Procter & Gamble’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. On average, equities analysts forecast that Procter & Gamble Co will post 4.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, January 18th were issued a $0.7172 dividend. The ex-dividend date was Thursday, January 17th. This represents a $2.87 dividend on an annualized basis and a yield of 2.80%. Procter & Gamble’s dividend payout ratio is currently 68.01%.

Several research analysts have recently weighed in on PG shares. Zacks Investment Research cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Wells Fargo & Co restated a “hold” rating and set a $91.00 price objective on shares of Procter & Gamble in a research report on Wednesday, January 23rd. Credit Suisse Group assumed coverage on shares of Procter & Gamble in a research report on Wednesday, March 6th. They set a “neutral” rating and a $100.00 price objective on the stock. Morgan Stanley upgraded shares of Procter & Gamble from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $91.00 to $106.00 in a research report on Thursday, December 13th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective on shares of Procter & Gamble in a research report on Wednesday, January 23rd. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.21.

In other Procter & Gamble news, Chairman David S. Taylor sold 30,000 shares of Procter & Gamble stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $99.09, for a total value of $2,972,700.00. Following the sale, the chairman now directly owns 223,849 shares in the company, valued at approximately $22,181,197.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Alexandra Keith sold 3,027 shares of Procter & Gamble stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $98.57, for a total transaction of $298,371.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,270,496 shares of company stock worth $224,931,027. 1.84% of the stock is currently owned by insiders.

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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.

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

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