Hoey Investments Inc. Makes New $975,000 Investment in Procter & Gamble Co (NYSE:PG)

Hoey Investments Inc. purchased a new position in shares of Procter & Gamble Co (NYSE:PG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,157 shares of the company’s stock, valued at approximately $975,000. Procter & Gamble accounts for about 0.5% of Hoey Investments Inc.’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in PG. Norges Bank bought a new position in Procter & Gamble in the fourth quarter valued at approximately $3,338,757,000. Morgan Stanley boosted its position in shares of Procter & Gamble by 54.8% during the first quarter. Morgan Stanley now owns 20,883,111 shares of the company’s stock valued at $2,297,142,000 after buying an additional 7,392,929 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Procter & Gamble by 72.2% during the first quarter. Janus Henderson Group PLC now owns 10,768,053 shares of the company’s stock valued at $1,184,519,000 after buying an additional 4,515,204 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Procter & Gamble by 66.4% during the first quarter. Franklin Resources Inc. now owns 10,508,172 shares of the company’s stock valued at $1,155,899,000 after buying an additional 4,191,966 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Procter & Gamble by 10.2% during the first quarter. Wellington Management Group LLP now owns 28,092,901 shares of the company’s stock valued at $3,090,220,000 after buying an additional 2,609,549 shares during the last quarter. 63.44% of the stock is currently owned by institutional investors.

Procter & Gamble stock traded up $1.14 during mid-day trading on Friday, hitting $123.63. 2,517,472 shares of the company traded hands, compared to its average volume of 7,848,507. The stock has a market cap of $304.80 billion, a price-to-earnings ratio of 69.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.83. Procter & Gamble Co has a one year low of $94.34 and a one year high of $128.09. The stock has a fifty day moving average price of $117.23 and a 200-day moving average price of $119.02.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, April 17th. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.04. The firm had revenue of $17.21 billion during the quarter, compared to analyst estimates of $17.29 billion. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. Sell-side analysts predict that Procter & Gamble Co will post 4.96 EPS for the current year.

In related news, CEO R. Alexandra Keith sold 7,360 shares of Procter & Gamble stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $120.00, for a total value of $883,200.00. Following the transaction, the chief executive officer now directly owns 44,746 shares of the company’s stock, valued at $5,369,520. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nelson Peltz sold 3,500,000 shares of Procter & Gamble stock in a transaction on Friday, April 24th. The stock was sold at an average price of $119.21, for a total transaction of $417,235,000.00. Following the completion of the transaction, the director now directly owns 3,891 shares in the company, valued at $463,846.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,963,114 shares of company stock valued at $1,067,197,986. Company insiders own 1.75% of the company’s stock.

PG has been the topic of a number of recent analyst reports. TheStreet upgraded Procter & Gamble from a “c+” rating to a “b” rating in a report on Tuesday, April 14th. Royal Bank of Canada reiterated a “hold” rating and set a $120.00 price target on shares of Procter & Gamble in a report on Tuesday, April 14th. Jefferies Financial Group upgraded Procter & Gamble from a “hold” rating to a “buy” rating and dropped their price target for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Argus upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday, March 26th. Finally, Bank of America reiterated a “buy” rating and set a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Procter & Gamble has an average rating of “Buy” and an average price target of $130.31.

Procter & Gamble Company 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.

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

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