Cobblestone Capital Advisors LLC NY Sells 2,270 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Cobblestone Capital Advisors LLC NY reduced its stake in Procter & Gamble by 4.4%, now holding 49,040 shares worth approximately $8.36 million.
• The company announced a quarterly dividend of $1.0568 per share, with a dividend yield of 2.8%, to be paid on August 15th.
• Procter & Gamble reported earnings of $1.48 EPS for the recent quarter, exceeding estimates, with revenue of $20.89 billion, reflecting a year-over-year growth of 1.7%.

Cobblestone Capital Advisors LLC NY lowered its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,040 shares of the company's stock after selling 2,270 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in Procter & Gamble were worth $8,357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PG. Navigoe LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at about $31,000. 10Elms LLP purchased a new position in Procter & Gamble in the 4th quarter worth approximately $34,000. Mizuho Securities Co. Ltd. increased its stake in Procter & Gamble by 566.7% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after purchasing an additional 170 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Trading Up 1.0%

Shares of PG stock traded up $1.52 during trading hours on Monday, reaching $155.03. The company's stock had a trading volume of 7,327,441 shares, compared to its average volume of 7,956,396. The stock has a market capitalization of $363.13 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.05 and a beta of 0.37. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The firm's fifty day simple moving average is $158.01 and its 200 day simple moving average is $163.60. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm's revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current 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. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a dividend yield of 2.7%. Procter & Gamble's payout ratio is currently 64.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Redburn Partners set a $161.00 price target on Procter & Gamble in a research note on Thursday, May 1st. Barclays set a $164.00 price target on Procter & Gamble and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Piper Sandler lifted their price target on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Wells Fargo & Company decreased their price target on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $175.88.

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.