Procter & Gamble Company (The) $PG Shares Sold by Comerica Bank

Comerica Bank lowered its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 754,385 shares of the company’s stock after selling 32,622 shares during the period. Comerica Bank’s holdings in Procter & Gamble were worth $115,911,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth about $25,000. Corundum Trust Company INC purchased a new position in Procter & Gamble in the third quarter valued at approximately $32,000. Caitlin John LLC acquired a new position in Procter & Gamble during the third quarter valued at approximately $34,000. Marquette Asset Management LLC acquired a new position in Procter & Gamble during the third quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Procter & Gamble during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PG shares. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their target price for the company from $157.00 to $165.00 in a research note on Friday, January 23rd. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price target for the stock from $156.00 to $179.00 in a research report on Tuesday, December 16th. Erste Group Bank raised Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, February 18th. TD Cowen cut Procter & Gamble from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $150.00 to $156.00 in a research note on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Procter & Gamble from $176.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, December 8th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $168.33.

Procter & Gamble Price Performance

PG opened at $150.57 on Friday. The company has a fifty day simple moving average of $153.32 and a 200 day simple moving average of $151.03. The firm has a market cap of $349.91 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 5.03 and a beta of 0.37. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $174.80. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $22.21 billion for the quarter, compared to analyst estimates of $22.36 billion. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS. Equities research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a $1.0568 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. Procter & Gamble’s dividend payout ratio is currently 62.52%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,827 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $160.31, for a total transaction of $2,056,296.37. Following the completion of the sale, the insider owned 12,639 shares in the company, valued at $2,026,158.09. This trade represents a 50.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 15,169 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $162.28, for a total value of $2,461,625.32. Following the completion of the transaction, the insider directly owned 44,735 shares in the company, valued at approximately $7,259,595.80. The trade was a 25.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 348,618 shares of company stock valued at $55,462,643 in the last three months. 0.20% of the stock is currently owned by company insiders.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.