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Procter & Gamble Company (The) $PG Stock: Keybank National Association OH Cuts Holdings

Procter & Gamble logo with Consumer Staples background
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Key Points

  • Keybank cut its Procter & Gamble stake by 19% in the third quarter, selling 265,252 shares; it retained 1.13 million shares valued at about $164.2 million.
  • Analysts’ consensus rating is “Moderate Buy”, with an average price target of $170.57. P&G beat quarterly earnings and revenue expectations, with sales up 4% year over year.
  • Company insiders have sold shares recently, including the CFO’s sale of 30,677 shares at $169. P&G also declared a quarterly dividend of $1.0885 per share, equivalent to an annualized yield of about 2.6%.
  • Five stocks we like better than Procter & Gamble.

Keybank National Association OH decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 19.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,130,101 shares of the company's stock after selling 265,252 shares during the quarter. Keybank National Association OH's holdings in Procter & Gamble were worth $164,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ellis Investment Partners LLC raised its holdings in Procter & Gamble by 0.7% in the third quarter. Ellis Investment Partners LLC now owns 8,816 shares of the company's stock worth $1,281,000 after purchasing an additional 64 shares during the period. Clark Wealth Partners boosted its position in shares of Procter & Gamble by 20.6% during the third quarter. Clark Wealth Partners now owns 387 shares of the company's stock worth $56,000 after purchasing an additional 66 shares in the last quarter. Kuhn & Co Investment Counsel boosted its position in shares of Procter & Gamble by 1.0% during the third quarter. Kuhn & Co Investment Counsel now owns 6,555 shares of the company's stock worth $952,000 after purchasing an additional 66 shares in the last quarter. Whelan Financial boosted its position in shares of Procter & Gamble by 1.9% during the third quarter. Whelan Financial now owns 3,689 shares of the company's stock worth $536,000 after purchasing an additional 68 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its holdings in shares of Procter & Gamble by 2.6% in the 2nd quarter. Midwest Professional Planners LTD. now owns 2,799 shares of the company's stock valued at $410,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PG shares. UBS Group set a $166.00 price objective on shares of Procter & Gamble in a research report on Friday, October 23rd. Royal Bank Of Canada set a $169.00 price objective on Procter & Gamble in a research note on Friday, October 23rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $161.00 target price on shares of Procter & Gamble in a report on Thursday, October 22nd. BNP Paribas Exane boosted their target price on Procter & Gamble from $177.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, October 23rd. Finally, Wells Fargo & Company increased their price target on Procter & Gamble from $164.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and an average target price of $170.57.

View Our Latest Research Report on PG

Insider Transactions at Procter & Gamble

In related news, CFO Andre Schulten sold 30,677 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $169.00, for a total transaction of $5,184,413.00. Following the completion of the transaction, the chief financial officer directly owned 65,618 shares in the company, valued at approximately $11,089,442. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew W. Janzaruk sold 9,479 shares of Procter & Gamble 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 completion of the sale, the chief accounting officer directly owned 1,271 shares in the company, valued at approximately $207,173. This represents a 88.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 197,756 shares of company stock worth $32,336,001. 0.23% of the stock is currently owned by company insiders.

Trending Headlines about Procter & Gamble

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

Procter & Gamble Trading Up 0.1%

Shares of NYSE:PG opened at $168.43 on Wednesday. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $170.52. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40. The company's fifty day simple moving average is $152.95 and its 200 day simple moving average is $149.64. The firm has a market cap of $390.38 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 4.14 and a beta of 0.36.

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

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be paid a $1.0885 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.35 annualized dividend and a dividend yield of 2.6%. Procter & Gamble's dividend payout ratio (DPR) is currently 65.51%.

About Procter & Gamble

(Free Report)

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.

Further Reading

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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