Procter & Gamble Company (The) (NYSE:PG) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,704 shares of the company's stock after selling 3,463 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Procter & Gamble were worth $52,098,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PG. Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares during the period. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter worth $5,244,463,000. Northern Trust Corp increased its holdings in Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. Finally, Franklin Resources Inc. raised its position in Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Stock Performance

PG traded up $2.00 on Thursday, hitting $155.73. 4,942,292 shares of the company traded hands, compared to its average volume of 7,637,448. The company has a 50 day moving average of $161.43 and a 200-day moving average of $164.61. Procter & Gamble Company has a 12-month low of $151.90 and a 12-month high of $180.43. The stock has a market capitalization of $365.12 billion, a PE ratio of 24.70, a PEG ratio of 4.35 and a beta of 0.40. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's payout ratio is 67.14%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer directly owned 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PG. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Barclays boosted their price target on shares of Procter & Gamble from $160.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday. Raymond James Financial reduced their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Piper Sandler boosted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Bank of America cut their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $176.80.

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.