DAVENPORT & Co LLC Acquires 2,970 Shares of The Procter & Gamble Company (NYSE:PG)

DAVENPORT & Co LLC increased its holdings in The Procter & Gamble Company (NYSE:PG) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,023 shares of the company’s stock after purchasing an additional 2,970 shares during the quarter. DAVENPORT & Co LLC’s holdings in The Procter & Gamble were worth $20,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its position in shares of The Procter & Gamble by 4.5% during the first quarter. Public Employees Retirement Association of Colorado now owns 472,285 shares of the company’s stock worth $51,951,000 after buying an additional 20,462 shares during the period. State Street Corp lifted its stake in shares of The Procter & Gamble by 0.9% in the 1st quarter. State Street Corp now owns 118,284,669 shares of the company’s stock valued at $13,011,314,000 after purchasing an additional 1,086,517 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of The Procter & Gamble by 1.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,420,204 shares of the company’s stock valued at $156,222,000 after purchasing an additional 22,986 shares in the last quarter. APG Asset Management N.V. grew its stake in The Procter & Gamble by 3.4% during the first quarter. APG Asset Management N.V. now owns 7,358,549 shares of the company’s stock worth $809,440,000 after purchasing an additional 244,532 shares during the period. Finally, Morgan Stanley increased its holdings in The Procter & Gamble by 54.8% in the first quarter. Morgan Stanley now owns 20,883,111 shares of the company’s stock worth $2,297,142,000 after purchasing an additional 7,392,929 shares in the last quarter. Institutional investors and hedge funds own 62.81% of the company’s stock.

PG traded up $0.56 during mid-day trading on Friday, reaching $144.39. 6,807,859 shares of the stock were exchanged, compared to its average volume of 8,382,961. The company has a 50 day moving average price of $138.93 and a two-hundred day moving average price of $125.52. The stock has a market capitalization of $359.48 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.85. The Procter & Gamble Company has a 1 year low of $94.34 and a 1 year high of $145.87.

The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $16.97 billion. The Procter & Gamble had a net margin of 18.36% and a return on equity of 29.53%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. Sell-side analysts expect that The Procter & Gamble Company will post 5.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be issued a $0.7907 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, October 22nd. The Procter & Gamble’s dividend payout ratio is presently 61.72%.

In related news, CEO David S. Taylor sold 30,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $130.22, for a total value of $3,906,600.00. Following the transaction, the chief executive officer now directly owns 273,429 shares of the company’s stock, valued at approximately $35,605,924.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Valarie L. Sheppard sold 4,688 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $138.28, for a total transaction of $648,256.64. Following the transaction, the vice president now owns 26,704 shares of the company’s stock, valued at approximately $3,692,629.12. The disclosure for this sale can be found here. Insiders have sold 272,757 shares of company stock valued at $36,738,374 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

PG has been the topic of a number of research reports. Barclays reiterated a “buy” rating on shares of The Procter & Gamble in a research report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Procter & Gamble from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. SunTrust Banks raised their target price on The Procter & Gamble from $115.00 to $120.00 in a research note on Wednesday, July 22nd. Jefferies Financial Group upped their price target on The Procter & Gamble from $153.00 to $166.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Berenberg Bank increased their price target on The Procter & Gamble from $136.00 to $149.00 and gave the stock a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $137.87.

About The Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It 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 The Procter & Gamble (NYSE:PG)

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