Hamlin Capital Management LLC Lowers Stake in Procter & Gamble Company (The) $PG

Key Points

• Hamlin Capital Management LLC cut its stake in Procter & Gamble by 11.8% in Q3, selling 129,698 shares and ending the quarter with 968,668 shares worth about $148.84 million (≈3.4% of its portfolio and its 20th largest holding).
• Insiders have been active sellers: Marc S. Pritchard sold 95,903 shares (~$14.5M) and CEO Gary A. Coombe sold 36,093 shares (~$5.86M); insiders sold 348,618 shares worth $55.46M in the past 90 days and now own just 0.20% of the company.
• Analyst sentiment is a Moderate Buy (14 Buys, 7 Holds) with an average price target of $168.33; P&G reported quarterly EPS of $1.88 (slightly beating estimates) and pays an annualized dividend of $4.23 (yield 2.8%).

Hamlin Capital Management LLC lessened its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,668 shares of the company's stock after selling 129,698 shares during the period. Procter & Gamble comprises about 3.4% of Hamlin Capital Management LLC's portfolio, making the stock its 20th largest holding. Hamlin Capital Management LLC's holdings in Procter & Gamble were worth $148,836,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Procter & Gamble in the third quarter valued at approximately $25,000. Corundum Trust Company INC purchased a new position in shares of Procter & Gamble during the 3rd quarter valued at approximately $32,000. Caitlin John LLC acquired a new stake in Procter & Gamble in the 3rd quarter valued at $34,000. Marquette Asset Management LLC purchased a new stake in Procter & Gamble in the 3rd quarter worth $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Procter & Gamble in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Insider Activity

In other Procter & Gamble news, insider Marc S. Pritchard sold 95,903 shares of the business's stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $151.15, for a total value of $14,495,738.45. Following the transaction, the insider directly owned 182,607 shares in the company, valued at $27,601,048.05. The trade was a 34.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 36,093 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the completion of the sale, the chief executive officer directly owned 34,994 shares of the company's stock, valued at approximately $5,680,576.02. This trade represents a 50.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 348,618 shares of company stock worth $55,462,643. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PG shares. Dbs Bank raised shares of Procter & Gamble from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Procter & Gamble from $176.00 to $171.00 and set a "buy" rating for the company in a research report on Monday, December 8th. JPMorgan Chase & Co. upgraded Procter & Gamble from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $157.00 to $165.00 in a report on Friday, January 23rd. Piper Sandler began coverage on Procter & Gamble in a research note on Wednesday, January 7th. They set a "neutral" rating and a $150.00 price objective for the company. Finally, Rothschild & Co Redburn raised their target price on Procter & Gamble from $155.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average price target of $168.33.

Procter & Gamble Price Performance

PG stock opened at $150.57 on Monday. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. The firm has a market capitalization of $349.91 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 5.04 and a beta of 0.37. The business has a 50 day simple moving average of $153.32 and a 200-day simple moving average of $150.96.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Friday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The firm's revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. Equities research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. Procter & Gamble's payout ratio is presently 62.67%.

Procter & Gamble Profile

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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