Gamco Investors INC. ET AL reduced its stake in Procter & Gamble Co (NYSE:PG) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,067 shares of the company’s stock after selling 6,306 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Procter & Gamble were worth $7,695,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of PG. Nippon Life Global Investors Americas Inc. grew its position in shares of Procter & Gamble by 6.9% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 151,130 shares of the company’s stock valued at $11,982,000 after purchasing an additional 9,790 shares in the last quarter. Optimum Investment Advisors grew its position in Procter & Gamble by 10.6% in the first quarter. Optimum Investment Advisors now owns 9,180 shares of the company’s stock worth $728,000 after acquiring an additional 878 shares in the last quarter. Lee Financial Co grew its position in Procter & Gamble by 432.6% in the first quarter. Lee Financial Co now owns 8,783 shares of the company’s stock worth $696,000 after acquiring an additional 7,134 shares in the last quarter. Boston Research & Management Inc. grew its position in Procter & Gamble by 15.8% in the first quarter. Boston Research & Management Inc. now owns 38,052 shares of the company’s stock worth $3,016,000 after acquiring an additional 5,205 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in Procter & Gamble by 6.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 701,700 shares of the company’s stock worth $55,632,000 after purchasing an additional 41,203 shares during the last quarter. 59.60% of the stock is currently owned by hedge funds and other institutional investors.
PG stock opened at $81.43 on Friday. Procter & Gamble Co has a 52 week low of $70.73 and a 52 week high of $94.67. The stock has a market cap of $207.60 billion, a PE ratio of 19.30, a P/E/G ratio of 2.65 and a beta of 0.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.83 and a quick ratio of 0.66.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 20th will be issued a $0.7172 dividend. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $2.87 annualized dividend and a dividend yield of 3.52%. Procter & Gamble’s dividend payout ratio is currently 68.01%.
Several analysts have issued reports on PG shares. Bank of America reissued a “neutral” rating and issued a $90.00 price objective on shares of Procter & Gamble in a research note on Thursday, April 19th. SunTrust Banks reaffirmed a “hold” rating and set a $75.00 target price on shares of Procter & Gamble in a research report on Friday, April 20th. Zacks Investment Research raised shares of Procter & Gamble from a “sell” rating to a “hold” rating in a report on Wednesday, April 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Procter & Gamble in a report on Thursday, April 19th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Procter & Gamble in a research note on Monday, June 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $85.32.
In other Procter & Gamble news, Vice Chairman Jon R. Moeller sold 5,300 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $77.41, for a total transaction of $410,273.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary A. Coombe sold 1,529 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $74.25, for a total transaction of $113,528.25. Following the sale, the insider now owns 5,235 shares in the company, valued at $388,698.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,035 shares of company stock worth $7,542,189. Company insiders own 0.35% of the company’s stock.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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