Meyer Handelman Co. Has $87.43 Million Position in Procter & Gamble Company (The) $PG

Key Points

• Meyer Handelman Co. reduced its position in Procter & Gamble by 0.9% during Q2, holding 548,790 shares worth approximately $87.43 million, making it the fund's 6th largest holding.
• Procter & Gamble's CEO, Gary A. Coombe, sold over 10,000 shares, representing a 22.57% decrease in ownership, while another CEO, Sundar G. Raman, also sold a significant number of shares, indicating insider selling activity.
• JPMorgan Chase & Co. and Wells Fargo & Company both issued price target revisions for Procter & Gamble, with the average price target now at $173.78, indicating mixed analyst ratings for the stock.

Meyer Handelman Co. cut its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,790 shares of the company's stock after selling 4,831 shares during the quarter. Procter & Gamble makes up approximately 2.9% of Meyer Handelman Co.'s holdings, making the stock its 6th largest holding. Meyer Handelman Co.'s holdings in Procter & Gamble were worth $87,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. purchased a new stake in shares of Procter & Gamble in the 1st quarter worth about $26,000. Quarry LP bought a new position in Procter & Gamble in the first quarter worth about $33,000. Mizuho Securities Co. Ltd. raised its stake in Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after buying an additional 170 shares in the last quarter. Quest 10 Wealth Builders Inc. lifted its holdings in Procter & Gamble by 50.3% in the first quarter. Quest 10 Wealth Builders Inc. now owns 245 shares of the company's stock worth $42,000 after buying an additional 82 shares during the period. Finally, Morton Brown Family Wealth LLC boosted its position in Procter & Gamble by 84.6% during the 1st quarter. Morton Brown Family Wealth LLC now owns 251 shares of the company's stock valued at $43,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 65.77% of the company's stock.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 10,194 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $158.16, for a total transaction of $1,612,283.04. Following the sale, the chief executive officer directly owned 34,978 shares of the company's stock, valued at $5,532,120.48. This trade represents a 22.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar G. Raman sold 9,554 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $158.16, for a total value of $1,511,060.64. Following the completion of the transaction, the chief executive officer directly owned 41,886 shares of the company's stock, valued at approximately $6,624,689.76. This trade represents a 18.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,181 shares of company stock worth $18,918,012. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PG shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $170.00 target price (down previously from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Wells Fargo & Company decreased their price objective on Procter & Gamble from $173.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday. Barclays set a $164.00 price objective on Procter & Gamble and gave the company an "equal weight" rating in a research report on Thursday, July 31st. BNP Paribas reaffirmed an "outperform" rating and issued a $177.00 target price on shares of Procter & Gamble in a research report on Friday, August 15th. Finally, UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $173.78.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $152.18 on Friday. The business has a fifty day moving average price of $156.05 and a 200-day moving average price of $160.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The company has a market capitalization of $356.17 billion, a PE ratio of 23.38, a PEG ratio of 4.02 and a beta of 0.36. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. Procter & Gamble's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. Procter & Gamble has set its FY 2026 guidance at 6.830-7.090 EPS. As a group, equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, July 18th. Procter & Gamble's payout ratio is presently 64.98%.

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.

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