TCTC Holdings LLC Sells 2,442 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• TCTC Holdings LLC has decreased its stake in Procter & Gamble by 3.4%, selling 2,442 shares and owning a total of 69,769 shares valued at approximately $11.89 million after the sale.
• Institutional investors hold 65.77% of Procter & Gamble's stock, with several hedge funds increasing their stakes in the company during the fourth quarter.
• Procter & Gamble recently announced a quarterly dividend of $1.0568 per share, resulting in an annualized dividend of $4.23 and a yield of 2.69%.

TCTC Holdings LLC cut its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,769 shares of the company's stock after selling 2,442 shares during the quarter. TCTC Holdings LLC's holdings in Procter & Gamble were worth $11,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Procter & Gamble by 20,758.5% in the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after purchasing an additional 7,913,335 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after purchasing an additional 2,846,560 shares during the last quarter. Northern Trust Corp raised its stake in shares of Procter & Gamble by 10.1% in the fourth 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Procter & Gamble by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock worth $2,728,430,000 after purchasing an additional 2,224,912 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Procter & Gamble by 1,709.5% in the fourth quarter. APG Asset Management N.V. now owns 2,006,298 shares of the company's stock worth $324,825,000 after purchasing an additional 1,895,421 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider directly owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PG. Citigroup decreased their price target on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Bank of America reduced their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. UBS Group set a $180.00 price objective on Procter & Gamble and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Evercore ISI reiterated an "in-line" rating and set a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $175.88.

Procter & Gamble Price Performance

Shares of NYSE PG traded up $0.28 during mid-day trading on Friday, reaching $150.75. The company's stock had a trading volume of 5,626,069 shares, compared to its average volume of 8,246,239. The firm has a market capitalization of $353.45 billion, a PE ratio of 23.16, a P/E/G ratio of 4.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a fifty day moving average of $160.13 and a two-hundred day moving average of $164.05. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The firm had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.56% and a net margin of 18.95%. The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal 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 paid a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. Procter & Gamble's dividend payout ratio is presently 67.14%.

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.