The Procter & Gamble Company (NYSE:PG) Stake Lessened by Mackay Shields LLC

Mackay Shields LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 26.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 385,823 shares of the company’s stock after selling 136,076 shares during the period. Mackay Shields LLC’s holdings in The Procter & Gamble were worth $52,059,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Magellan Asset Management Ltd lifted its stake in The Procter & Gamble by 566,378.0% during the second quarter. Magellan Asset Management Ltd now owns 13,340,557 shares of the company’s stock valued at $1,800,041,000 after purchasing an additional 13,338,202 shares during the last quarter. Sanders Capital LLC acquired a new position in shares of The Procter & Gamble during the 2nd quarter worth $989,563,000. Franklin Resources Inc. grew its stake in The Procter & Gamble by 30.2% in the 1st quarter. Franklin Resources Inc. now owns 17,715,905 shares of the company’s stock valued at $2,399,267,000 after buying an additional 4,108,666 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in The Procter & Gamble by 35.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,631,943 shares of the company’s stock valued at $1,439,884,000 after buying an additional 2,793,345 shares during the last quarter. Finally, Beacon Capital Management Inc. boosted its holdings in The Procter & Gamble by 27,777.8% in the 2nd quarter. Beacon Capital Management Inc. now owns 2,575,071 shares of the company’s stock valued at $211,568,000 after purchasing an additional 2,565,834 shares during the period. Institutional investors and hedge funds own 62.51% of the company’s stock.

Shares of NYSE PG traded up $1.52 during mid-day trading on Thursday, reaching $143.96. 142,084 shares of the company’s stock were exchanged, compared to its average volume of 7,829,210. The firm has a market capitalization of $349.58 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. The Procter & Gamble Company has a 52 week low of $121.54 and a 52 week high of $147.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.70 and a quick ratio of 0.52. The firm has a 50-day moving average price of $142.97 and a two-hundred day moving average price of $138.62.

The Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.05. The Procter & Gamble had a return on equity of 31.49% and a net margin of 18.80%. The business had revenue of $18.95 billion during the quarter, compared to analyst estimates of $18.38 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

A number of equities analysts have recently commented on PG shares. Truist Securities raised their price objective on shares of The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Monday, August 2nd. Bank of America initiated coverage on shares of The Procter & Gamble in a research report on Tuesday, October 5th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Procter & Gamble from $160.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, October 4th. Truist boosted their price objective on shares of The Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a report on Monday, August 2nd. Finally, Citigroup lifted their price target on shares of The Procter & Gamble from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 2nd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.00.

In other The Procter & Gamble news, CEO Carolyn M. Tastad sold 7,772 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $141.77, for a total value of $1,101,836.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael G. Homan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $144.04, for a total value of $1,440,400.00. The disclosure for this sale can be found here. Insiders have sold 748,024 shares of company stock valued at $106,760,698 in the last three months. 0.51% of the stock is owned by insiders.

The Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

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

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