Resource Management LLC trimmed its position in shares of Procter & Gamble Co (NYSE:PG) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,126 shares of the company’s stock after selling 390 shares during the period. Procter & Gamble makes up approximately 0.3% of Resource Management LLC’s holdings, making the stock its 28th largest holding. Resource Management LLC’s holdings in Procter & Gamble were worth $1,878,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bell Asset Management Ltd lifted its position in shares of Procter & Gamble by 14.3% during the 4th quarter. Bell Asset Management Ltd now owns 62,876 shares of the company’s stock valued at $5,780,000 after buying an additional 7,872 shares in the last quarter. Carlson Capital Management lifted its position in shares of Procter & Gamble by 35.6% during the 4th quarter. Carlson Capital Management now owns 6,055 shares of the company’s stock valued at $557,000 after buying an additional 1,590 shares in the last quarter. Lavaca Capital LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $565,000. Rossmore Private Capital lifted its position in shares of Procter & Gamble by 21.0% during the 4th quarter. Rossmore Private Capital now owns 10,384 shares of the company’s stock valued at $954,000 after buying an additional 1,800 shares in the last quarter. Finally, Eukles Asset Management purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $80,000. Hedge funds and other institutional investors own 62.17% of the company’s stock.
Shares of PG traded up $1.80 during midday trading on Tuesday, reaching $117.83. The company had a trading volume of 1,902,475 shares, compared to its average volume of 8,922,264. Procter & Gamble Co has a 1-year low of $78.49 and a 1-year high of $121.76. The company has a market capitalization of $292.21 billion, a PE ratio of 26.07, a PEG ratio of 3.38 and a beta of 0.45. The business has a 50 day simple moving average of $114.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.75.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.7459 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.93%.
PG has been the topic of a number of research reports. TheStreet lowered Procter & Gamble from an “a-” rating to a “c+” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 price objective on shares of Procter & Gamble in a report on Tuesday, July 30th. UBS Group set a $122.00 price objective on Procter & Gamble and gave the company a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank raised their price objective on Procter & Gamble from $106.00 to $109.00 and gave the company a “hold” rating in a report on Monday, June 17th. Finally, Morgan Stanley raised their price objective on Procter & Gamble from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Procter & Gamble has an average rating of “Hold” and an average target price of $108.15.
In other Procter & Gamble news, VP Valarie L. Sheppard sold 17,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $120.20, for a total value of $2,043,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ioannis Skoufalos sold 20,761 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $106.68, for a total value of $2,214,783.48. Following the completion of the sale, the insider now directly owns 37,196 shares of the company’s stock, valued at $3,968,069.28. The disclosure for this sale can be found here. Insiders sold a total of 181,623 shares of company stock valued at $20,371,930 over the last ninety days. Corporate insiders own 1.84% of the company’s stock.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
Further Reading: What is a conference call?
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.