Connable Office Inc. Sells 5,020 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Connable Office Inc. reduced its stake in Procter & Gamble by 20.6%, selling 5,020 shares, and now holds 19,401 shares valued at approximately $3.31 million.
• Procter & Gamble reported better-than-expected quarterly earnings with an EPS of $1.48, surpassing analysts' estimates of $1.42 and achieving a revenue of $20.89 billion.
• The company announced a quarterly dividend of $1.0568 per share, representing an annual yield of 2.8%, with a payout ratio of 64.98%.

Connable Office Inc. lessened its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,401 shares of the company's stock after selling 5,020 shares during the period. Connable Office Inc.'s holdings in Procter & Gamble were worth $3,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PG. GAMMA Investing LLC grew its position in Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Capital Research Global Investors grew its holdings in Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Northern Trust Corp raised its stake in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after acquiring an additional 2,703,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Procter & Gamble by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock worth $2,728,430,000 after purchasing an additional 2,224,912 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Procter & Gamble by 1,709.5% in the fourth quarter. APG Asset Management N.V. now owns 2,006,298 shares of the company's stock valued at $324,825,000 after purchasing an additional 1,895,421 shares during the period. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Performance

PG stock traded up $0.06 during midday trading on Friday, reaching $153.55. 3,769,742 shares of the company's stock traded hands, compared to its average volume of 8,206,229. The firm has a market capitalization of $359.67 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 4.03 and a beta of 0.37. The company has a 50-day moving average price of $158.59 and a two-hundred day moving average price of $163.74. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is 64.82%.

Analyst Upgrades and Downgrades

PG has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $170.00 price objective (down from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Evercore ISI reissued an "in-line" rating and set a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Raymond James Financial cut their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Citigroup lowered their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.88.

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.