Magellan Asset Management Ltd Decreases Position in Procter & Gamble Company (The) $PG

Magellan Asset Management Ltd decreased its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 92.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,860 shares of the company's stock after selling 1,204,868 shares during the quarter. Magellan Asset Management Ltd's holdings in Procter & Gamble were worth $14,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Baxter Bros Inc. acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at about $12,381,000. Cibc World Market Inc. grew its holdings in Procter & Gamble by 40.6% during the fourth quarter. Cibc World Market Inc. now owns 511,833 shares of the company's stock worth $73,351,000 after acquiring an additional 147,701 shares during the period. World Investment Advisors raised its position in Procter & Gamble by 15.9% during the fourth quarter. World Investment Advisors now owns 105,915 shares of the company's stock valued at $15,179,000 after acquiring an additional 14,492 shares in the last quarter. Resources Management Corp CT ADV lifted its holdings in Procter & Gamble by 41.8% in the fourth quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company's stock valued at $11,681,000 after acquiring an additional 24,010 shares during the period. Finally, Indivisible Partners purchased a new stake in Procter & Gamble in the 4th quarter worth approximately $2,120,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PG. Bank of America cut their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a report on Friday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a research report on Wednesday, June 24th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. Argus lowered shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group raised their target price on Procter & Gamble from $177.00 to $179.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average price target of $161.19.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $143.18 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. The firm has a fifty day moving average of $147.25 and a 200 day moving average of $148.31. The firm has a market cap of $332.81 billion, a PE ratio of 21.63, a PEG ratio of 4.47 and a beta of 0.39. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The business had revenue of $21.20 billion for the quarter, compared to analyst estimates of $21.38 billion. During the same quarter last year, the business earned $1.48 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, research analysts predict that Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were paid a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble's payout ratio is 65.71%.

Insider Buying and Selling at Procter & Gamble

In other news, CAO Matthew W. Janzaruk sold 359 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the transaction, the chief accounting officer owned 1,271 shares in the company, valued at $184,600.04. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 4,030 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the completion of the sale, the insider directly owned 187,001 shares in the company, valued at $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,627 shares of company stock valued at $953,417 over the last quarter. 0.20% of the stock is currently owned by insiders.

Procter & Gamble Company 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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