Community Bank N.A. lessened its holdings in Procter & Gamble Company (The) (NYSE:PG) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 66,660 shares of the company’s stock after selling 2,747 shares during the period. Community Bank N.A.’s holdings in Procter & Gamble were worth $6,065,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Planning Services Ltd. raised its holdings in Procter & Gamble by 0.4% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after purchasing an additional 5 shares during the last quarter. Harding Loevner LP bought a new position in Procter & Gamble during the 2nd quarter worth approximately $119,000. Kohmann Bosshard Financial Services LLC bought a new position in Procter & Gamble during the 3rd quarter worth approximately $125,000. Blume Capital Management Inc. raised its holdings in Procter & Gamble by 25.4% during the 2nd quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares during the last quarter. Finally, Winfield Associates Inc. raised its holdings in Procter & Gamble by 0.7% during the 2nd quarter. Winfield Associates Inc. now owns 2,260 shares of the company’s stock worth $197,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 59.56% of the company’s stock.
In related news, insider Marylynn Fergusonmchugh sold 2,856 shares of Procter & Gamble stock in a transaction on Monday, October 16th. The shares were sold at an average price of $92.98, for a total value of $265,550.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Alexandra Keith sold 1,298 shares of Procter & Gamble stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $89.11, for a total transaction of $115,664.78. Following the completion of the sale, the insider now directly owns 20,135 shares of the company’s stock, valued at approximately $1,794,229.85. The disclosure for this sale can be found here. In the last three months, insiders sold 21,575 shares of company stock valued at $1,927,095. 0.35% of the stock is currently owned by insiders.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 20th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The company had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. research analysts expect that Procter & Gamble Company will post 4.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be given a $0.6896 dividend. This represents a $2.76 annualized dividend and a yield of 3.03%. Procter & Gamble’s payout ratio is currently 73.80%.
PG has been the subject of several analyst reports. Jefferies Group restated a “buy” rating and set a $99.00 price target on shares of Procter & Gamble in a report on Monday, December 18th. Stifel Nicolaus set a $87.00 price target on shares of Procter & Gamble and gave the stock a “hold” rating in a report on Friday, October 20th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Procter & Gamble in a research report on Wednesday, October 4th. Deutsche Bank started coverage on shares of Procter & Gamble in a research report on Tuesday, December 19th. They set a “buy” rating and a $91.88 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Procter & Gamble currently has a consensus rating of “Hold” and a consensus target price of $89.31.
About Procter & Gamble
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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