First City Capital Management Inc. Lowers Stake in The Procter & Gamble Company (NYSE:PG)

First City Capital Management Inc. decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,649 shares of the company’s stock after selling 418 shares during the quarter. Procter & Gamble comprises about 1.4% of First City Capital Management Inc.’s portfolio, making the stock its 17th biggest position. First City Capital Management Inc.’s holdings in Procter & Gamble were worth $2,710,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC increased its holdings in Procter & Gamble by 8.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 37,479 shares of the company’s stock worth $6,491,000 after acquiring an additional 2,937 shares in the last quarter. Wrapmanager Inc. grew its holdings in shares of Procter & Gamble by 9.0% in the third quarter. Wrapmanager Inc. now owns 11,274 shares of the company’s stock valued at $1,953,000 after purchasing an additional 932 shares during the period. BIP Wealth LLC increased its holdings in shares of Procter & Gamble by 93.9% during the 3rd quarter. BIP Wealth LLC now owns 9,595 shares of the company’s stock worth $1,662,000 after buying an additional 4,646 shares during the last quarter. Prospera Financial Services Inc raised its position in Procter & Gamble by 3.1% in the third quarter. Prospera Financial Services Inc now owns 227,112 shares of the company’s stock valued at $39,353,000 after purchasing an additional 6,895 shares during the period. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $3,307,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.7 %

Shares of NYSE PG opened at $170.80 on Tuesday. The company’s 50 day moving average price is $170.21 and its 200-day moving average price is $168.45. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $402.24 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. Equities analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. Procter & Gamble’s payout ratio is presently 69.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PG. 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 objective for the company. Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price target for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,727 shares of company stock worth $46,014,037 in the last quarter. 0.18% of the stock is currently owned by company insiders.

About Procter & Gamble

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.