Procter & Gamble Company (The) $PG Stock: Factory Mutual Insurance Co. Lowers Position

Key Points

• Factory Mutual Insurance Co. cut its Procter & Gamble stake by 10.9% in the third quarter, selling 42,850 shares and retaining 351,937 shares valued at about $51.1 million.
• P&G beat quarterly expectations, reporting EPS of $2.00 versus $1.89 expected and revenue of $23.28 billion, up 4% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $170.57.
• The company declared a quarterly dividend of $1.0885 per share, equivalent to a 2.7% annualized yield; its dividend has increased for 70 consecutive years.

Factory Mutual Insurance Co. lowered its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 351,937 shares of the company's stock after selling 42,850 shares during the period. Factory Mutual Insurance Co.'s holdings in Procter & Gamble were worth $51,129,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Procter & Gamble in the second quarter worth $27,862,105,000. State Street Corp raised its stake in shares of Procter & Gamble by 1.0% in the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company's stock valued at $14,988,999,000 after acquiring an additional 965,461 shares during the period. Bank of America Corp DE acquired a new position in shares of Procter & Gamble during the 2nd quarter valued at $3,850,628,000. Bank of New York Mellon Corp acquired a new position in shares of Procter & Gamble during the 2nd quarter valued at $2,281,505,000. Finally, Dimensional Fund Advisors LP boosted its position in Procter & Gamble by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,797,916 shares of the company's stock worth $1,704,182,000 after purchasing an additional 300,280 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Analysts Set New Price Targets

PG has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Procter & Gamble from $164.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, October 23rd. Barclays boosted their price objective on Procter & Gamble from $152.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, October 26th. Morgan Stanley upped their target price on Procter & Gamble from $166.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, October 23rd. Evercore raised Procter & Gamble from an "in-line" rating to an "outperform" rating and set a $166.00 target price for the company in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $161.00 target price on shares of Procter & Gamble in a research note on Thursday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.57.

Procter & Gamble Stock Down 1.1%

Shares of NYSE:PG opened at $161.80 on Wednesday. The firm has a market cap of $375.02 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 4.02 and a beta of 0.36. The company has a fifty day simple moving average of $150.68 and a 200 day simple moving average of $149.12. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The business had revenue of $23.28 billion for the quarter, compared to analysts' expectations of $22.80 billion. During the same quarter last year, the company posted $1.99 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be given a $1.0885 dividend. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 23rd. Procter & Gamble's dividend payout ratio (DPR) is presently 65.51%.

Procter & Gamble News Summary

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: P&G has raised its dividend for 70 consecutive years, a track record that supports its appeal to income-focused investors. Article: Procter & Gamble dividend history
• Neutral Sentiment: The company closed a €3.25 billion euro-note offering. The financing provides capital but adds debt obligations; the available report does not specify how the proceeds will be used. Article: Euro note offering
• Negative Sentiment: Analysts note that rising costs and shoppers’ focus on value could make it harder for P&G to sustain growth in premium brands, despite strong loyalty and innovation. Article: Premium brands in a value-seeking market
• Negative Sentiment: Several executives and the chief accounting officer reported share sales. Such transactions can add near-term concern, though insider sales alone do not establish a negative outlook. SEC filing: Insider transaction

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Paul Gama sold 4,331 shares of Procter & Gamble stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $161.27, for a total value of $698,460.37. Following the completion of the transaction, the chief executive officer directly owned 46,793 shares in the company, valued at $7,546,307.11. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew Janzaruk sold 9,479 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $163.00, for a total value of $1,545,077.00. Following the transaction, the chief accounting officer owned 1,271 shares of the company's stock, valued at $207,173. This represents a 88.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 128,085 shares of company stock valued at $20,696,098 over the last ninety days. Insiders own 0.23% of the company's stock.

About Procter & Gamble

Procter & Gamble Company NYSE: PG is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company's well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

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