GRIMES & Co WEALTH MANAGEMENT LLC Acquires 8,030 Shares of Procter & Gamble Company (The) $PG

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC increased its Procter & Gamble stake by 22.8% in the third quarter, adding 8,030 shares and bringing its holdings to 43,238 shares valued at approximately $6.28 million.
• Procter & Gamble exceeded quarterly expectations, reporting $2.00 EPS and $23.28 billion in revenue; revenue rose 4% year over year. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $170.57.
• The company declared a quarterly dividend of $1.0885 per share, equivalent to $4.35 annually and a 2.7% yield, while insiders have sold 58,647 shares worth about $9.27 million over the past 90 days.

GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 22.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,238 shares of the company's stock after buying an additional 8,030 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Procter & Gamble were worth $6,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Next Level Wealth Planning LLC purchased a new stake in Procter & Gamble in the 3rd quarter valued at about $56,000. Signature Equity Partners LLC grew its stake in Procter & Gamble by 6.2% in the 3rd quarter. Signature Equity Partners LLC now owns 4,211 shares of the company's stock worth $612,000 after acquiring an additional 247 shares in the last quarter. Kuhn & Co Investment Counsel increased its position in shares of Procter & Gamble by 1.0% during the third quarter. Kuhn & Co Investment Counsel now owns 6,555 shares of the company's stock worth $952,000 after acquiring an additional 66 shares during the period. MBA Advisors LLC increased its position in shares of Procter & Gamble by 2.5% during the third quarter. MBA Advisors LLC now owns 6,541 shares of the company's stock worth $950,000 after acquiring an additional 161 shares during the period. Finally, Cortland Associates Inc. MO raised its stake in shares of Procter & Gamble by 5.1% during the third quarter. Cortland Associates Inc. MO now owns 4,539 shares of the company's stock valued at $659,000 after acquiring an additional 220 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG stock opened at $163.99 on Tuesday. The firm has a market cap of $380.10 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 3.89 and a beta of 0.39. The firm has a 50-day simple moving average of $150.37 and a two-hundred day simple moving average of $149.04. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.72.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.11. The firm had revenue of $23.28 billion for the quarter, compared to the consensus estimate of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 EPS. On average, equities analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be paid a $1.0885 dividend. This represents a $4.35 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 23rd. Procter & Gamble's dividend payout ratio (DPR) is 65.51%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 4,181 shares of Procter & Gamble stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $160.71, for a total value of $671,928.51. Following the transaction, the insider directly owned 11,296 shares of the company's stock, valued at approximately $1,815,380.16. The trade was a 27.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 3,914 shares of the company's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $145.34, for a total value of $568,860.76. Following the transaction, the chief financial officer directly owned 65,618 shares in the company, valued at approximately $9,536,920.12. The trade was a 5.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 58,647 shares of company stock valued at $9,268,508. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PG. The Goldman Sachs Group reiterated a "neutral" rating and issued a $161.00 price target on shares of Procter & Gamble in a report on Thursday, October 22nd. Argus downgraded Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on Procter & Gamble from $164.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, October 23rd. Sanford C. Bernstein reiterated a "market perform" rating and issued a $149.00 target price on shares of Procter & Gamble in a report on Monday, August 24th. Finally, Evercore raised Procter & Gamble from an "in-line" rating to an "outperform" rating and set a $166.00 price target on the stock in a research report on Tuesday, October 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $170.57.

Procter & Gamble Company Profile

Procter & Gamble Company NYSE: PG is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company's well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

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