Hayek Kallen Investment Management Cuts Stake in Procter & Gamble Co (NYSE:PG)

Hayek Kallen Investment Management lowered its position in shares of Procter & Gamble Co (NYSE:PG) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,025 shares of the company’s stock after selling 98 shares during the period. Hayek Kallen Investment Management’s holdings in Procter & Gamble were worth $252,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Procter & Gamble by 1.8% during the second quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock valued at $23,954,054,000 after purchasing an additional 3,786,962 shares in the last quarter. BlackRock Inc. boosted its position in Procter & Gamble by 1.5% during the second quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock valued at $18,413,594,000 after purchasing an additional 2,470,382 shares in the last quarter. Phocas Financial Corp. boosted its position in Procter & Gamble by 999,937.0% during the second quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock valued at $77,920,000 after purchasing an additional 71,055,523 shares in the last quarter. Northern Trust Corp boosted its position in Procter & Gamble by 0.9% during the second quarter. Northern Trust Corp now owns 33,064,470 shares of the company’s stock valued at $3,625,519,000 after purchasing an additional 295,521 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Procter & Gamble by 6,899.0% during the second quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock valued at $2,019,412,000 after purchasing an additional 18,153,758 shares in the last quarter. Hedge funds and other institutional investors own 65.62% of the company’s stock.

NYSE PG traded up $0.08 during trading on Friday, hitting $119.70. The company’s stock had a trading volume of 4,181,176 shares, compared to its average volume of 7,798,948. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.54. The company has a market cap of $296.51 billion, a PE ratio of 26.48, a P/E/G ratio of 3.23 and a beta of 0.42. The business’s 50 day simple moving average is $121.95 and its 200-day simple moving average is $115.01. Procter & Gamble Co has a fifty-two week low of $86.74 and a fifty-two week high of $125.77.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. The business had revenue of $17.80 billion during the quarter, compared to the consensus estimate of $17.43 billion. Procter & Gamble had a return on equity of 25.07% and a net margin of 6.24%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. Analysts expect that Procter & Gamble Co will post 4.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, October 17th. Procter & Gamble’s dividend payout ratio (DPR) is 65.93%.

In related news, Director Nelson Peltz sold 206,967 shares of Procter & Gamble stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $124.40, for a total transaction of $25,746,694.80. Following the completion of the sale, the director now owns 3,844 shares of the company’s stock, valued at $478,193.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 26,075 shares of Procter & Gamble stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $124.96, for a total value of $3,258,332.00. Following the sale, the insider now directly owns 139,066 shares of the company’s stock, valued at approximately $17,377,687.36. The disclosure for this sale can be found here. Insiders have sold 1,645,966 shares of company stock valued at $202,229,770 in the last ninety days. Corporate insiders own 1.75% of the company’s stock.

A number of equities research analysts recently weighed in on PG shares. Credit Suisse Group raised their price objective on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Procter & Gamble from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. ValuEngine downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley raised their price target on Procter & Gamble from $130.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $89.00 price target on shares of Procter & Gamble in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $116.71.

Procter & Gamble Profile

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.

Featured Article: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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