Bank of Nova Scotia Sells 340,644 Shares of Procter & Gamble Company (The) (NYSE:PG)

Bank of Nova Scotia cut its holdings in Procter & Gamble Company (The) (NYSE:PG) by 41.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 481,483 shares of the company’s stock after selling 340,644 shares during the period. Bank of Nova Scotia’s holdings in Procter & Gamble were worth $82,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Navigoe LLC bought a new position in Procter & Gamble in the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble in the 4th quarter valued at $31,000. 10Elms LLP bought a new position in Procter & Gamble in the 4th quarter valued at $34,000. Mizuho Securities Co. Ltd. boosted its holdings in Procter & Gamble by 566.7% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 170 shares during the period. Finally, Sunbeam Capital Management LLC bought a new position in Procter & Gamble in the 4th quarter valued at $34,000. 65.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PG shares. Evercore ISI reissued an “in-line” rating and issued a $170.00 price target (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Erste Group Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Citigroup lowered their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Procter & Gamble from $175.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.88.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider owned 25,182 shares of the company’s stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $150.65 on Friday. The stock has a market cap of $353.20 billion, a PE ratio of 23.14, a PEG ratio of 3.96 and a beta of 0.37. The company’s fifty day moving average is $159.83 and its 200 day moving average is $163.99. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The company had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. Research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is 67.14%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.