Pettyjohn Wood & White Inc. Sells 2,968 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Pettyjohn Wood & White Inc. reduced its position in Procter & Gamble by 3.5% in Q1, owning 81,936 shares, valued at approximately $13.96 million.
• Procter & Gamble’s recent quarterly earnings report revealed an EPS of $1.48, surpassing estimates, with revenues of $20.89 billion.
• The company declared a quarterly dividend of $1.0568 per share, reflecting a 2.8% yield, which will be paid on August 15th.

Pettyjohn Wood & White Inc. trimmed its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,936 shares of the company's stock after selling 2,968 shares during the period. Procter & Gamble makes up about 2.7% of Pettyjohn Wood & White Inc.'s holdings, making the stock its 6th biggest holding. Pettyjohn Wood & White Inc.'s holdings in Procter & Gamble were worth $13,964,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. UNIVEST FINANCIAL Corp increased its position in Procter & Gamble by 8.8% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 26,181 shares of the company's stock worth $4,462,000 after purchasing an additional 2,116 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in Procter & Gamble by 3.1% during the first quarter. Baker Avenue Asset Management LP now owns 10,730 shares of the company's stock worth $1,829,000 after buying an additional 320 shares during the period. Castellan Group increased its position in shares of Procter & Gamble by 114.6% in the first quarter. Castellan Group now owns 32,482 shares of the company's stock worth $5,536,000 after acquiring an additional 17,349 shares in the last quarter. Strategic Advocates LLC increased its position in shares of Procter & Gamble by 11.9% in the first quarter. Strategic Advocates LLC now owns 2,548 shares of the company's stock worth $434,000 after acquiring an additional 271 shares in the last quarter. Finally, EagleClaw Capital Managment LLC raised its stake in shares of Procter & Gamble by 20.0% in the 1st quarter. EagleClaw Capital Managment LLC now owns 8,760 shares of the company's stock valued at $1,493,000 after acquiring an additional 1,462 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Down 1.7%

NYSE PG opened at $150.30 on Friday. The company has a market capitalization of $352.38 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 4.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.50. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43. The company's fifty day moving average price is $160.13 and its two-hundred day moving average price is $164.05.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $20.89 billion for the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 earnings per share. As a group, research analysts predict 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 will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 67.14%.

Insider Activity

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider owned 25,182 shares of the company's stock, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Evercore ISI reiterated an "in-line" rating and issued a $170.00 price target (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Redburn Partners set a $161.00 target price on Procter & Gamble in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a report on Wednesday. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Raymond James Financial dropped their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus price target of $175.88.

About Procter & Gamble

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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