The Procter & Gamble Company (NYSE:PG) Stake Decreased by Covea Finance

by · The Markets Daily

Covea Finance decreased its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 22.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,970 shares of the company’s stock after selling 28,400 shares during the period. Covea Finance’s holdings in Procter & Gamble were worth $16,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the second quarter worth approximately $29,000. Ruedi Wealth Management Inc. grew its position in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new position in Procter & Gamble during the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter valued at $31,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG stock traded up $2.14 during trading hours on Friday, reaching $171.09. 7,036,480 shares of the company were exchanged, compared to its average volume of 6,682,263. The Procter & Gamble Company has a fifty-two week low of $141.66 and a fifty-two week high of $177.94. The stock’s fifty day moving average is $171.48 and its two-hundred day moving average is $166.74. The company has a market cap of $403.80 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same period in the prior year, the business posted $1.37 earnings per share. Procter & Gamble’s revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.35%. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen initiated coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. Finally, BNP Paribas initiated coverage on shares of Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 target price for the company. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $175.05.

Check Out Our Latest Analysis on PG

Insider Buying and Selling at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,194 shares of company stock valued at $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.

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