Manchester Financial Inc. grew its holdings in Procter & Gamble Co (NYSE:PG) by 23.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,079 shares of the company’s stock after acquiring an additional 207 shares during the quarter. Manchester Financial Inc.’s holdings in Procter & Gamble were worth $129,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of PG. Orser Capital Management LLC boosted its holdings in Procter & Gamble by 16.6% in the fourth quarter. Orser Capital Management LLC now owns 2,301 shares of the company’s stock worth $286,000 after acquiring an additional 328 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Procter & Gamble by 1.2% in the fourth quarter. Quadrant Capital Group LLC now owns 75,964 shares of the company’s stock worth $9,452,000 after acquiring an additional 885 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Procter & Gamble by 166.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,784 shares of the company’s stock worth $19,457,000 after purchasing an additional 97,362 shares during the period. Oxford Asset Management LLP acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $1,379,000. Finally, Vigilare Wealth Management acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $1,268,000. 63.33% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PG opened at $124.05 on Tuesday. Procter & Gamble Co has a 12-month low of $94.34 and a 12-month high of $128.09. The company has a market capitalization of $306.71 billion, a PE ratio of 70.09, a PEG ratio of 3.29 and a beta of 0.42. The business has a 50 day moving average of $118.11 and a two-hundred day moving average of $118.99. The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.
In other news, Director Nelson Peltz sold 3,500,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $119.21, for a total value of $417,235,000.00. Following the completion of the sale, the director now directly owns 3,891 shares in the company, valued at $463,846.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jon R. Moeller sold 130,626 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $116.37, for a total value of $15,200,947.62. The disclosure for this sale can be found here. Insiders sold 8,963,114 shares of company stock valued at $1,067,197,986 over the last 90 days. Company insiders own 1.75% of the company’s stock.
A number of equities research analysts recently commented on PG shares. Citigroup lifted their target price on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. TheStreet raised Procter & Gamble from a “c+” rating to a “b” rating in a report on Tuesday, April 14th. Bank of America reaffirmed a “buy” rating and set a $135.00 target price on shares of Procter & Gamble in a report on Saturday, April 18th. Jefferies Financial Group raised Procter & Gamble from a “hold” rating to a “buy” rating and decreased their target price for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Finally, Stifel Nicolaus lifted their target price on Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $130.31.
About Procter & Gamble
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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