Narwhal Capital Management decreased its stake in Procter & Gamble Co (NYSE:PG) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,209 shares of the company’s stock after selling 2,042 shares during the quarter. Procter & Gamble accounts for about 1.5% of Narwhal Capital Management’s investment portfolio, making the stock its 15th largest holding. Narwhal Capital Management’s holdings in Procter & Gamble were worth $6,495,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in PG. Franklin Resources Inc. boosted its position in shares of Procter & Gamble by 63.1% in the 1st quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock valued at $883,964,000 after purchasing an additional 4,315,180 shares during the period. BlackRock Inc. boosted its position in shares of Procter & Gamble by 1.9% in the 1st quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock valued at $12,890,867,000 after purchasing an additional 2,961,408 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Procter & Gamble by 575.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,205,842 shares of the company’s stock valued at $294,553,000 after purchasing an additional 2,731,361 shares during the period. American Century Companies Inc. boosted its position in shares of Procter & Gamble by 17.9% in the 1st quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock valued at $1,103,790,000 after purchasing an additional 2,115,777 shares during the period. Finally, HS Management Partners LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $142,467,000. Institutional investors and hedge funds own 58.36% of the company’s stock.
In other news, insider Kathleen B. Fish sold 26,946 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.55, for a total transaction of $2,170,500.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Valarie L. Sheppard sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.66, for a total value of $2,177,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 147,186 shares of company stock valued at $12,080,849 over the last ninety days. Company insiders own 1.84% of the company’s stock.
NYSE PG traded up $0.19 during trading on Friday, reaching $79.06. 9,863,043 shares of the company’s stock were exchanged, compared to its average volume of 8,832,482. Procter & Gamble Co has a fifty-two week low of $70.73 and a fifty-two week high of $93.51. The firm has a market capitalization of $209.82 billion, a PE ratio of 18.73, a PEG ratio of 2.68 and a beta of 0.59. The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 0.40.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.04. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The firm had revenue of $16.50 billion during the quarter, compared to analyst estimates of $16.52 billion. During the same period last year, the company posted $0.85 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that Procter & Gamble Co will post 4.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a dividend of $0.7172 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a yield of 3.63%. Procter & Gamble’s payout ratio is presently 68.01%.
A number of research firms recently weighed in on PG. Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Bank of America increased their price target on Procter & Gamble from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 4th. Atlantic Securities began coverage on Procter & Gamble in a research report on Thursday, September 20th. They issued an “overweight” rating and a $94.00 price target for the company. ValuEngine upgraded Procter & Gamble from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $78.00 price target on shares of Procter & Gamble in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $84.53.
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.
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