The Procter & Gamble Company (NYSE:PG) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its position in The Procter & Gamble Company (NYSE:PG) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 110,763 shares of the company’s stock after selling 3,168 shares during the quarter. Procter & Gamble comprises about 1.1% of Pitcairn Co.’s portfolio, making the stock its 14th biggest holding. Pitcairn Co.’s holdings in Procter & Gamble were worth $19,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the 2nd quarter worth about $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth $29,000. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble during the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Procter & Gamble during the second quarter worth $44,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 2.0 %

NYSE:PG opened at $176.26 on Friday. The stock has a 50-day simple moving average of $170.04 and a 200-day simple moving average of $168.62. The stock has a market cap of $415.10 billion, a P/E ratio of 30.39, a P/E/G ratio of 3.74 and a beta of 0.42. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year 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.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business 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 business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. As a group, analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share 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 dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.28%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. DA Davidson reiterated a “neutral” rating and issued a $160.00 price objective on shares of Procter & Gamble in a report on Wednesday. Finally, Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.00.

Insider Transactions at Procter & Gamble

In other news, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. The trade was a 25.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,693 shares of company stock valued at $27,311,345. 0.18% of the stock is currently owned by corporate 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.