Parthenon LLC grew its position in Procter & Gamble Co (NYSE:PG) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,123 shares of the company’s stock after acquiring an additional 2,339 shares during the quarter. Procter & Gamble comprises about 3.9% of Parthenon LLC’s portfolio, making the stock its 6th largest position. Parthenon LLC’s holdings in Procter & Gamble were worth $16,388,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Trillium Asset Management LLC increased its stake in Procter & Gamble by 2.0% in the 2nd quarter. Trillium Asset Management LLC now owns 170,302 shares of the company’s stock worth $14,842,000 after buying an additional 3,387 shares during the period. Barrett Asset Management LLC increased its stake in Procter & Gamble by 3.3% in the 2nd quarter. Barrett Asset Management LLC now owns 137,397 shares of the company’s stock worth $11,974,000 after buying an additional 4,325 shares during the period. Aviva PLC increased its stake in Procter & Gamble by 1.7% in the 2nd quarter. Aviva PLC now owns 1,814,623 shares of the company’s stock worth $158,162,000 after buying an additional 30,897 shares during the period. Assenagon Asset Management S.A. increased its stake in Procter & Gamble by 1,094.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 736,699 shares of the company’s stock worth $67,025,000 after buying an additional 675,013 shares during the period. Finally, Pensionfund Sabic purchased a new position in Procter & Gamble in the 2nd quarter worth about $4,009,000. 59.56% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on PG shares. Jefferies Group reaffirmed a “buy” rating and issued a $104.00 price target (up previously from $103.00) on shares of Procter & Gamble in a research note on Wednesday, September 20th. Bank of America raised their price target on shares of Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, October 23rd. Vetr raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $93.02 price target on the stock in a research note on Monday, October 23rd. Finally, Deutsche Bank assumed coverage on shares of Procter & Gamble in a research note on Wednesday, December 13th. They issued a “buy” rating and a $101.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $89.31.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Procter & Gamble had a net margin of 17.23% and a return on equity of 20.73%. The business had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.69 billion. During the same period last year, the business earned $1.03 EPS. The company’s revenue was up .8% compared to the same quarter last year. sell-side analysts predict that Procter & Gamble Co will post 4.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be issued a $0.6896 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, January 18th. Procter & Gamble’s dividend payout ratio is currently 73.80%.
In related news, insider Carolyn M. Tastad sold 5,300 shares of Procter & Gamble stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $89.18, for a total value of $472,654.00. Following the completion of the sale, the insider now directly owns 57,191 shares in the company, valued at approximately $5,100,293.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Alexandra Keith sold 1,298 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total transaction of $115,664.78. Following the completion of the sale, the insider now owns 20,135 shares of the company’s stock, valued at $1,794,229.85. The disclosure for this sale can be found here. Insiders sold a total of 21,575 shares of company stock worth $1,927,095 over the last 90 days. Company insiders own 0.35% of the company’s stock.
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Procter & Gamble Company 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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