CNB Bank Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

CNB Bank decreased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,783 shares of the company’s stock after selling 613 shares during the quarter. Procter & Gamble makes up 1.4% of CNB Bank’s investment portfolio, making the stock its 13th biggest holding. CNB Bank’s holdings in Procter & Gamble were worth $3,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Steele Capital Management Inc. purchased a new position in Procter & Gamble in the first quarter valued at $204,000. GAMMA Investing LLC raised its position in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after acquiring an additional 10,777 shares in the last quarter. Consilio Wealth Advisors LLC lifted its stake in Procter & Gamble by 27.7% during the first quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock worth $283,000 after purchasing an additional 379 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after purchasing an additional 1,466,115 shares in the last quarter. Finally, Talbot Financial LLC increased its stake in Procter & Gamble by 1.5% in the first quarter. Talbot Financial LLC now owns 65,600 shares of the company’s stock valued at $10,644,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG opened at $171.28 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $171.77 and its two-hundred day moving average is $167.16. The stock has a market capitalization of $404.24 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.74 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the company earned $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.35%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PG. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Evercore ISI upped their price objective 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. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Citigroup boosted their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, TD Cowen started coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Nine research 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 an average rating of “Moderate Buy” and a consensus target price of $176.21.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the transaction, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The stock was 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 in the company, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the transaction, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,194 shares of company stock valued at $65,140,718 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Profile

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.