TD Asset Management Inc Sells 295,448 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• TD Asset Management Inc has reduced its holdings in Procter & Gamble by 9.4%, now owning 2,840,926 shares valued at approximately $484 million after selling 295,448 shares.
• Procter & Gamble reported earnings of $1.54 per share, beating expectations by $0.01, despite a year-over-year revenue decline of 2.1%.
• The company declared a quarterly dividend of $1.0568 per share, with a yield of 2.67%, to be paid on August 15th.

TD Asset Management Inc decreased its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,840,926 shares of the company's stock after selling 295,448 shares during the quarter. TD Asset Management Inc owned 0.12% of Procter & Gamble worth $484,151,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Navigoe LLC purchased a new stake in Procter & Gamble in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble in the 4th quarter valued at about $31,000. Hoey Investments Inc. increased its stake in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after buying an additional 148 shares during the last quarter. 10Elms LLP purchased a new stake in Procter & Gamble in the 4th quarter valued at about $34,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of Procter & Gamble by 566.7% during 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 last quarter. Institutional investors own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

PG has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Procter & Gamble from $186.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Raymond James Financial decreased their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup reduced their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Erste Group Bank cut shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Piper Sandler boosted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of "Moderate Buy" and a consensus target price of $176.12.

Procter & Gamble Price Performance

NYSE:PG traded down $0.41 during midday trading on Tuesday, hitting $156.70. The company had a trading volume of 11,456,376 shares, compared to its average volume of 8,241,805. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43. The stock's fifty day moving average price is $160.86 and its 200-day moving average price is $164.24. The company has a market capitalization of $367.38 billion, a PE ratio of 24.87, a P/E/G ratio of 4.51 and a beta of 0.40. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. As a group, research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is presently 67.14%.

Insiders Place Their Bets

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares of the company's stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

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.