Bank of New York Mellon Corp Sells 409,717 Shares of Procter & Gamble Company (The) (NYSE:PG)

Bank of New York Mellon Corp trimmed its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,863,352 shares of the company's stock after selling 409,717 shares during the period. Procter & Gamble makes up 0.6% of Bank of New York Mellon Corp's investment portfolio, making the stock its 21st largest holding. Bank of New York Mellon Corp owned about 0.80% of Procter & Gamble worth $3,214,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PG. Unique Wealth LLC raised its holdings in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company's stock worth $365,000 after acquiring an additional 61 shares during the last quarter. Stableford Capital II LLC raised its position in shares of Procter & Gamble by 1.1% in the first quarter. Stableford Capital II LLC now owns 5,817 shares of the company's stock valued at $993,000 after buying an additional 61 shares during the last quarter. Bernard Wealth Management Corp. raised its position in shares of Procter & Gamble by 20.2% in the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company's stock valued at $64,000 after buying an additional 63 shares during the last quarter. Kolinsky Wealth Management LLC boosted its position in Procter & Gamble by 1.1% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock worth $962,000 after acquiring an additional 64 shares during the last quarter. Finally, Retirement Planning Group LLC grew its stake in Procter & Gamble by 1.4% in the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company's stock worth $789,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Procter & Gamble Price Performance

Shares of PG stock traded down $0.48 during trading on Friday, hitting $160.72. The company had a trading volume of 6,999,589 shares, compared to its average volume of 7,494,586. The stock's 50-day moving average price is $162.10 and its 200 day moving average price is $165.30. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The firm has a market capitalization of $376.82 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 4.58 and a beta of 0.40.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. Equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 67.14%.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Evercore ISI reissued an "outperform" rating and issued a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Procter & Gamble Company Profile

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.