Connor Clark & Lunn Investment Management Ltd. Trims Position in Procter & Gamble Company (The) $PG

Connor Clark & Lunn Investment Management Ltd. lowered its position in Procter & Gamble Company (The) (NYSE:PG) by 47.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 585,583 shares of the company’s stock after selling 529,255 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Procter & Gamble were worth $85,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in Procter & Gamble by 8.6% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 158,414 shares of the company’s stock worth $23,230,000 after purchasing an additional 12,509 shares during the period. Te Ahumairangi Investment Management Ltd boosted its holdings in Procter & Gamble by 2.7% in the 2nd quarter. Te Ahumairangi Investment Management Ltd now owns 57,010 shares of the company’s stock valued at $8,360,000 after purchasing an additional 1,490 shares during the last quarter. Mission Financial Group LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $353,000. Elefante Mark B increased its holdings in shares of Procter & Gamble by 8.3% during the 2nd quarter. Elefante Mark B now owns 40,143 shares of the company’s stock worth $5,887,000 after buying an additional 3,080 shares during the last quarter. Finally, LM Advisors LLC increased its holdings in shares of Procter & Gamble by 590.5% during the 2nd quarter. LM Advisors LLC now owns 2,251 shares of the company’s stock worth $330,000 after buying an additional 1,925 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 359 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $145.24, for a total transaction of $52,141.16. Following the sale, the chief accounting officer directly owned 1,271 shares in the company, valued at $184,600.04. This represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Street Whaley sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $321,802.02. Following the completion of the transaction, the insider directly owned 26,989 shares of the company’s stock, valued at $3,880,748.31. This represents a 7.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,627 shares of company stock valued at $953,417 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of recent analyst reports. Barclays upped their price objective on Procter & Gamble from $146.00 to $152.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Sanford C. Bernstein reissued a “market perform” rating and set a $149.00 target price on shares of Procter & Gamble in a research note on Monday. JPMorgan Chase & Co. reduced their target price on Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Citigroup lowered their price target on Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, BMO Capital Markets lifted their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.19.

Procter & Gamble Price Performance

PG opened at $143.18 on Friday. The stock’s 50-day moving average price is $147.25 and its 200 day moving average price is $148.31. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The firm has a market cap of $332.81 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 4.47 and a beta of 0.39. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.Procter & Gamble’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, sell-side analysts expect that Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.0%. Procter & Gamble’s payout ratio is 65.71%.

Procter & Gamble 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.