The Procter & Gamble Company (NYSE:PG) Shares Sold by Ergoteles LLC

Ergoteles LLC reduced its stake in The Procter & Gamble Company (NYSE:PG) by 14.1% during the 2nd quarter, Holdings Channel reports. The fund owned 288,421 shares of the company’s stock after selling 47,414 shares during the quarter. The Procter & Gamble makes up approximately 0.9% of Ergoteles LLC’s investment portfolio, making the stock its 12th biggest position. Ergoteles LLC’s holdings in The Procter & Gamble were worth $38,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Magellan Asset Management Ltd grew its holdings in shares of The Procter & Gamble by 566,378.0% during the second quarter. Magellan Asset Management Ltd now owns 13,340,557 shares of the company’s stock worth $1,800,041,000 after purchasing an additional 13,338,202 shares during the last quarter. Sanders Capital LLC purchased a new position in shares of The Procter & Gamble during the second quarter worth about $989,563,000. Franklin Resources Inc. lifted its position in The Procter & Gamble by 30.2% in the first quarter. Franklin Resources Inc. now owns 17,715,905 shares of the company’s stock valued at $2,399,267,000 after purchasing an additional 4,108,666 shares during the period. Price T Rowe Associates Inc. MD lifted its position in The Procter & Gamble by 35.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,631,943 shares of the company’s stock valued at $1,439,884,000 after purchasing an additional 2,793,345 shares during the period. Finally, Beacon Capital Management Inc. lifted its position in shares of The Procter & Gamble by 27,777.8% during the 2nd quarter. Beacon Capital Management Inc. now owns 2,575,071 shares of the company’s stock valued at $211,568,000 after acquiring an additional 2,565,834 shares during the period. Institutional investors and hedge funds own 62.51% of the company’s stock.

Shares of NYSE:PG traded down $0.49 during mid-day trading on Friday, hitting $143.70. The stock had a trading volume of 268,369 shares, compared to its average volume of 7,970,795. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.52 and a current ratio of 0.70. The company has a market cap of $348.95 billion, a PE ratio of 26.07, a P/E/G ratio of 3.47 and a beta of 0.43. The Procter & Gamble Company has a 12-month low of $121.54 and a 12-month high of $147.23. The company’s 50 day moving average is $142.77 and its 200-day moving average is $137.42.

The Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, July 29th. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.05. The business had revenue of $18.95 billion during the quarter, compared to the consensus estimate of $18.38 billion. The Procter & Gamble had a net margin of 18.80% and a return on equity of 31.49%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, equities research analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, July 23rd were paid a $0.8698 dividend. This represents a $3.48 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, July 22nd. This is a positive change from The Procter & Gamble’s previous quarterly dividend of $0.66. The Procter & Gamble’s dividend payout ratio is currently 61.48%.

In related news, CAO Michael G. Homan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $144.04, for a total value of $1,440,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Theresa Grabowski sold 15,539 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $143.00, for a total transaction of $2,222,077.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,024 shares of company stock worth $106,760,698. Company insiders own 0.51% of the company’s stock.

Several research analysts recently issued reports on PG shares. UBS Group initiated coverage on The Procter & Gamble in a research report on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 price objective for the company. Credit Suisse Group lifted their target price on shares of The Procter & Gamble from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, August 2nd. Citigroup boosted their price objective on shares of The Procter & Gamble from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. Evercore ISI reiterated a “buy” rating and issued a $163.00 price objective on shares of The Procter & Gamble in a report on Sunday, September 12th. Finally, Truist boosted their price objective on shares of The Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Monday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $151.63.

The Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Institutional Ownership by Quarter for The Procter & Gamble (NYSE:PG)

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