Procter & Gamble Co (PG) Stake Lowered by Mondrian Investment Partners LTD
Mondrian Investment Partners LTD lowered its holdings in Procter & Gamble Co (NYSE:PG) by 41.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,831 shares of the company’s stock after selling 246,972 shares during the period. Mondrian Investment Partners LTD’s holdings in Procter & Gamble were worth $32,708,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Eukles Asset Management acquired a new position in Procter & Gamble in the fourth quarter valued at $80,000. Tributary Capital Management LLC acquired a new position in Procter & Gamble in the fourth quarter valued at $91,000. Mackey Komara & Dankovich LLC acquired a new position in Procter & Gamble in the fourth quarter valued at $94,000. Ayalon Holdings Ltd. acquired a new position in Procter & Gamble in the third quarter valued at $108,000. Finally, First Mercantile Trust Co. acquired a new position in Procter & Gamble in the third quarter valued at $111,000. 61.76% of the stock is owned by institutional investors and hedge funds.
Shares of PG opened at $106.05 on Monday. The stock has a market cap of $267.35 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 3.43 and a beta of 0.38. Procter & Gamble Co has a 12 month low of $70.73 and a 12 month high of $106.71. 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 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 dividend yield of 2.81%. The ex-dividend date is Wednesday, April 17th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s payout ratio is currently 70.62%.
In related news, Chairman David S. Taylor sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $99.09, for a total value of $2,972,700.00. Following the transaction, the chairman now owns 223,849 shares in the company, valued at $22,181,197.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Jon R. Moeller sold 3,224 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $98.57, for a total value of $317,789.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,270,496 shares of company stock worth $224,931,027. 1.84% of the stock is currently owned by insiders.
A number of research analysts recently weighed in on PG shares. Zacks Investment Research cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Wells Fargo & Co reiterated a “hold” rating and issued a $91.00 target price on shares of Procter & Gamble in a report on Wednesday, January 23rd. Credit Suisse Group started coverage on Procter & Gamble in a report on Wednesday, March 6th. They issued a “neutral” rating and a $100.00 target price on the stock. Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 target price on shares of Procter & Gamble in a report on Wednesday, January 23rd. Finally, Berenberg Bank upgraded Procter & Gamble from a “sell” rating to a “hold” rating and lifted their target price for the company from $86.00 to $92.00 in a report on Thursday, January 24th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $97.74.
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About Procter & Gamble
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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