Evelyn Partners Asset Management Ltd Trims Stock Position in Procter & Gamble Company (The) $PG

Evelyn Partners Asset Management Ltd cut its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 88.7% in the first quarter, HoldingsChannel reports. The firm owned 1,909 shares of the company’s stock after selling 15,046 shares during the period. Evelyn Partners Asset Management Ltd’s holdings in Procter & Gamble were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PG. Vanguard Group Inc. lifted its holdings in shares of Procter & Gamble by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock valued at $34,030,358,000 after buying an additional 2,829,151 shares during the period. State Street Corp boosted its stake in shares of Procter & Gamble by 1.0% in the fourth quarter. State Street Corp now owns 101,618,926 shares of the company’s stock worth $14,563,008,000 after buying an additional 984,102 shares during the last quarter. Geode Capital Management LLC grew its holdings in Procter & Gamble by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock worth $8,962,689,000 after acquiring an additional 1,974,556 shares during the period. Norges Bank purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $4,664,783,000. Finally, Price T Rowe Associates Inc. MD raised its position in Procter & Gamble by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,612,826 shares of the company’s stock valued at $4,243,815,000 after acquiring an additional 1,091,091 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Shares of PG stock opened at $148.66 on Tuesday. The company has a market capitalization of $346.17 billion, a P/E ratio of 21.73, a P/E/G ratio of 7.33 and a beta of 0.39. The business’s 50 day moving average is $147.46 and its two-hundred day moving average is $148.82. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, April 24th. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. The business had revenue of $21.23 billion during the quarter, compared to analysts’ expectations of $21.52 billion. Procter & Gamble had a return on equity of 32.00% and a net margin of 19.16%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. Analysts expect that Procter & Gamble Company will post 6.88 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be issued a $1.0885 dividend. This represents a $4.35 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 24th. Procter & Gamble’s payout ratio is presently 63.60%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley lowered their price objective on Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $158.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Evercore set a $162.00 target price on shares of Procter & Gamble in a research note on Monday, April 27th. BMO Capital Markets increased their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Rothschild & Co Redburn dropped their price target on shares of Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $161.74.

About Procter & Gamble

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.