Navellier & Associates Inc. Reduces Position in The Procter & Gamble Company (NYSE:PG)

Navellier & Associates Inc. reduced its position in The Procter & Gamble Company (NYSE:PG) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,257 shares of the company’s stock after selling 1,446 shares during the quarter. Navellier & Associates Inc.’s holdings in Procter & Gamble were worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PG. Acorn Creek Capital LLC grew its position in shares of Procter & Gamble by 2.8% in the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after purchasing an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Procter & Gamble by 1.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after acquiring an additional 59 shares during the period. Hudson Value Partners LLC raised its position in Procter & Gamble by 4.1% in the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after purchasing an additional 60 shares during the period. Traveka Wealth LLC lifted its position in Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after acquiring an additional 60 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its position in shares of Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE:PG opened at $171.31 on Thursday. 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 stock’s 50-day simple moving average is $170.01 and its 200 day simple moving average is $168.51. The company has a market cap of $403.44 billion, a P/E ratio of 29.47, a P/E/G ratio of 3.69 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week 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 the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Activity

In related news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jon R. Moeller sold 87,979 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the transaction, the chief executive officer now owns 300,777 shares of the company’s stock, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,727 shares of company stock worth $29,694,037. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. DA Davidson reaffirmed a “neutral” rating and issued a $160.00 target price on shares of Procter & Gamble in a research report on Wednesday. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

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.