Burgundy Asset Management Ltd. Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Burgundy Asset Management Ltd. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,314 shares of the company's stock after selling 294,408 shares during the period. Burgundy Asset Management Ltd.'s holdings in Procter & Gamble were worth $110,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PG. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter worth $5,244,463,000. Raymond James Financial Inc. purchased a new position in Procter & Gamble in the 4th quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock valued at $580,596,000 after acquiring an additional 2,973,757 shares during the period. Capital Research Global Investors boosted its holdings in shares of Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Finally, Northern Trust Corp grew 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 acquiring an additional 2,703,757 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares of the company's stock, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,520 shares of company stock valued at $7,909,388 in the last quarter. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of several analyst reports. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Redburn Partners set a $161.00 target price on shares of Procter & Gamble in a research note on Thursday, May 1st. Royal Bank of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, Citigroup decreased their price target on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $178.52.

Procter & Gamble Trading Up 0.1%

NYSE PG traded up $0.23 on Wednesday, hitting $167.99. 2,099,074 shares of the stock were exchanged, compared to its average volume of 8,104,487. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43. The firm has a market capitalization of $393.86 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.76 and a beta of 0.41. The stock has a fifty day moving average price of $164.14 and a two-hundred day moving average price of $167.35.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same period in the previous year, the company earned $1.52 EPS. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is currently 66.98%.

Procter & Gamble Company Profile

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.