Pettee Investors Inc. Reduces Position in Procter & Gamble Company (The) (NYSE:PG)

Pettee Investors Inc. lessened its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,667 shares of the company's stock after selling 2,895 shares during the period. Procter & Gamble makes up about 2.1% of Pettee Investors Inc.'s investment portfolio, making the stock its 9th largest holding. Pettee Investors Inc.'s holdings in Procter & Gamble were worth $3,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Procter & Gamble by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after purchasing an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock worth $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter worth $5,244,463,000. Northern Trust Corp increased its holdings in shares of Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock worth $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded down $0.54 during trading hours on Friday, hitting $155.08. The company's stock had a trading volume of 7,270,714 shares, compared to its average volume of 7,645,427. The business has a 50 day moving average price of $161.37 and a two-hundred day moving average price of $164.53. Procter & Gamble Company has a 12-month low of $151.90 and a 12-month high of $180.43. The company has a market cap of $363.59 billion, a PE ratio of 24.62, a PEG ratio of 4.38 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The business's revenue was down 2.1% on a year-over-year basis. Analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $1.0568 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.73%. Procter & Gamble's dividend payout ratio is currently 67.14%.

Analysts Set New Price Targets

A number of research firms have commented on PG. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Raymond James Financial cut their price objective on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $164.00 to $177.00 in a report on Friday, April 25th. UBS Group cut their price objective on Procter & Gamble from $186.00 to $180.00 and set a "buy" rating for the company in a report on Thursday. Finally, Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $176.84.

Insider Transactions at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer owned 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.