Victory Capital Management Inc. Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

Share on StockTwits

Victory Capital Management Inc. lessened its position in The Procter & Gamble Company (NYSE:PG) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,930,830 shares of the company’s stock after selling 207,973 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of The Procter & Gamble worth $268,366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newfound Research LLC purchased a new position in shares of The Procter & Gamble in the third quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in The Procter & Gamble during the second quarter worth approximately $35,000. FAI Wealth Management lifted its position in The Procter & Gamble by 203.0% during the second quarter. FAI Wealth Management now owns 303 shares of the company’s stock worth $36,000 after buying an additional 203 shares in the last quarter. Estate Counselors LLC purchased a new position in The Procter & Gamble during the second quarter worth approximately $47,000. Finally, Barnett & Company Inc. raised its position in The Procter & Gamble by 23.4% in the second quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock valued at $54,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 62.81% of the company’s stock.

Shares of PG stock traded up $0.07 on Tuesday, hitting $142.50. The company’s stock had a trading volume of 93,608 shares, compared to its average volume of 8,202,316. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.68. The Procter & Gamble Company has a fifty-two week low of $94.34 and a fifty-two week high of $146.92. The firm’s fifty day moving average price is $141.19 and its 200-day moving average price is $129.38. The stock has a market capitalization of $353.17 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 3.53 and a beta of 0.43.

The Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, October 20th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.21. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $18.38 billion. The Procter & Gamble had a net margin of 18.36% and a return on equity of 29.53%. The Procter & Gamble’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 EPS. Analysts predict that The Procter & Gamble Company will post 5.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 16th. Shareholders of record on Friday, October 23rd were paid a $0.7907 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, October 22nd. The Procter & Gamble’s dividend payout ratio is currently 61.72%.

In other The Procter & Gamble news, insider Carolyn M. Tastad sold 51,867 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $142.94, for a total transaction of $7,413,868.98. Following the transaction, the insider now directly owns 72,456 shares in the company, valued at $10,356,860.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Taylor sold 35,054 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $142.67, for a total transaction of $5,001,154.18. Following the transaction, the chief executive officer now owns 307,008 shares in the company, valued at $43,800,831.36. The disclosure for this sale can be found here. Insiders have sold a total of 498,214 shares of company stock worth $70,239,802 over the last ninety days. 0.70% of the stock is currently owned by insiders.

A number of research firms have commented on PG. Deutsche Bank Aktiengesellschaft lifted their target price on The Procter & Gamble from $150.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Morgan Stanley lifted their target price on The Procter & Gamble from $158.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Truist lifted their target price on The Procter & Gamble from $125.00 to $150.00 in a research report on Monday, October 19th. Barclays restated a “buy” rating on shares of The Procter & Gamble in a research report on Sunday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of The Procter & Gamble in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $144.50.

The Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PG).

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

Receive News & Ratings for The Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply