Wellington Management Group LLP Lowers Stock Holdings in Procter & Gamble Company (The) $PG

Key Points

• Wellington Management Group LLP has reduced its stake in Procter & Gamble by 8.1%, now owning approximately 22.3 million shares valued at $3.79 billion.
• Procter & Gamble recently announced a quarterly dividend of $1.0568 per share, which corresponds to an annualized yield of 2.7%.
• Equities analysts have mixed views on Procter & Gamble, with target prices ranging from $161.00 to $190.00, and a consensus rating of "Moderate Buy."

Wellington Management Group LLP lowered its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,263,429 shares of the company's stock after selling 1,964,746 shares during the quarter. Procter & Gamble comprises approximately 0.7% of Wellington Management Group LLP's holdings, making the stock its 19th largest holding. Wellington Management Group LLP owned 0.95% of Procter & Gamble worth $3,794,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of PG. Edgar Lomax Co. VA raised its position in shares of Procter & Gamble by 61.3% during the 1st quarter. Edgar Lomax Co. VA now owns 175,965 shares of the company's stock valued at $29,988,000 after buying an additional 66,880 shares in the last quarter. Korea Investment CORP grew its holdings in Procter & Gamble by 2.4% during the 1st quarter. Korea Investment CORP now owns 1,816,167 shares of the company's stock valued at $309,511,000 after purchasing an additional 42,353 shares during the last quarter. Qtron Investments LLC grew its holdings in Procter & Gamble by 1.8% during the 1st quarter. Qtron Investments LLC now owns 29,453 shares of the company's stock valued at $5,019,000 after purchasing an additional 522 shares during the last quarter. Alpha Family Trust grew its holdings in Procter & Gamble by 129.8% during the 1st quarter. Alpha Family Trust now owns 5,205 shares of the company's stock valued at $887,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Sand Hill Global Advisors LLC grew its holdings in Procter & Gamble by 1.5% during the 1st quarter. Sand Hill Global Advisors LLC now owns 52,831 shares of the company's stock valued at $9,003,000 after purchasing an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PG shares. Bank of America cut their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Erste Group Bank cut shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Citigroup decreased their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.94.

Procter & Gamble Price Performance

Shares of PG stock opened at $154.30 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The firm's 50-day moving average is $157.19 and its two-hundred day moving average is $163.24. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43. The company has a market capitalization of $361.43 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping 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 company had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. Procter & Gamble's quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a dividend of $1.0568 per share. The ex-dividend date was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) 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.

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