Procter & Gamble Co (PG) Position Reduced by Stewart & Patten Co. LLC
Stewart & Patten Co. LLC cut its stake in shares of Procter & Gamble Co (NYSE:PG) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 240,351 shares of the company’s stock after selling 3,881 shares during the quarter. Procter & Gamble accounts for 4.5% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 6th biggest position. Stewart & Patten Co. LLC’s holdings in Procter & Gamble were worth $22,093,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its stake in shares of Procter & Gamble by 17.1% during the third quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 85,146 shares of the company’s stock worth $7,087,000 after purchasing an additional 12,410 shares during the period. Windsor Group LTD increased its stake in shares of Procter & Gamble by 19.0% during the fourth quarter. Windsor Group LTD now owns 7,712 shares of the company’s stock worth $709,000 after purchasing an additional 1,233 shares during the period. Chemical Bank increased its stake in shares of Procter & Gamble by 2.0% during the third quarter. Chemical Bank now owns 107,731 shares of the company’s stock worth $8,966,000 after purchasing an additional 2,141 shares during the period. Peoples Financial Services CORP. increased its stake in shares of Procter & Gamble by 7.4% during the third quarter. Peoples Financial Services CORP. now owns 69,301 shares of the company’s stock worth $5,767,000 after purchasing an additional 4,775 shares during the period. Finally, Telemus Capital LLC increased its stake in shares of Procter & Gamble by 6.2% during the third quarter. Telemus Capital LLC now owns 28,618 shares of the company’s stock worth $2,382,000 after purchasing an additional 1,676 shares during the period. 61.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Macquarie set a $110.00 target price on Procter & Gamble and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Barclays reiterated a “hold” rating and set a $94.00 target price on shares of Procter & Gamble in a research note on Friday, January 25th. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Monday, January 21st. Evercore ISI assumed coverage on Procter & Gamble in a research note on Thursday, January 10th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Bank of America upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Thursday, December 13th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $97.74.
Procter & Gamble stock opened at $104.66 on Wednesday. Procter & Gamble Co has a one year low of $70.73 and a one year high of $105.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.78. The firm has a market cap of $263.85 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.37 and a beta of 0.38.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, January 23rd. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.04. Procter & Gamble had a return on equity of 21.41% and a net margin of 16.13%. The firm had revenue of $17.44 billion for the quarter, compared to analyst estimates of $17.16 billion. During the same quarter last year, the company earned $1.19 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Procter & Gamble Co will post 4.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a yield of 2.85%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s dividend payout ratio (DPR) is 68.01%.
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Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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