Prudential PLC Sells 6,760 Shares of Procter & Gamble Company (The) $PG

Key Points

• Prudential PLC has reduced its stake in Procter & Gamble by 15.7%, now holding 36,353 shares valued at approximately $6.2 million, after selling 6,760 shares in the first quarter.
• Procter & Gamble reported a quarterly EPS of $1.48, exceeding analyst estimates, and had revenue of $20.89 billion, reflecting a 1.7% year-over-year increase.
• The company declared a quarterly dividend of $1.0568 per share, which equates to an annualized yield of 2.7%, with the dividend payout ratio currently at 64.98%.

Prudential PLC lessened its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,353 shares of the company's stock after selling 6,760 shares during the period. Prudential PLC's holdings in Procter & Gamble were worth $6,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Navigoe LLC purchased a new stake in Procter & Gamble during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $31,000. 10Elms LLP purchased a new position in Procter & Gamble in the 4th quarter valued at approximately $34,000. Mizuho Securities Co. Ltd. grew its stake in shares of Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after acquiring an additional 170 shares in the last quarter. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PG shares. BNP Paribas restated an "outperform" rating and set a $177.00 price target on shares of Procter & Gamble in a report on Friday. Raymond James Financial cut their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $175.94.

Procter & Gamble Stock Performance

PG stock traded up $1.47 during trading on Monday, reaching $155.83. 3,644,866 shares of the company's stock were exchanged, compared to its average volume of 8,142,663. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The firm has a market cap of $365.00 billion, a PE ratio of 23.93, a P/E/G ratio of 4.07 and a beta of 0.37. The company's fifty day moving average price is $157.19 and its 200-day moving average price is $163.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The business had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. On average, research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 64.82%.

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.