Ern LLC Acquires New Position in The Procter & Gamble Company (NYSE:PG)

Ern LLC acquired a new stake in The Procter & Gamble Company (NYSE:PGGet Rating) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 32,500 shares of the company’s stock, valued at approximately $4,673,000. Procter & Gamble makes up 5.2% of Ern LLC’s portfolio, making the stock its 2nd biggest holding.

Several other large investors have also bought and sold shares of PG. Northcape Wealth Management LLC increased its stake in Procter & Gamble by 95.2% in the first quarter. Northcape Wealth Management LLC now owns 24,189 shares of the company’s stock valued at $3,696,000 after purchasing an additional 11,800 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Procter & Gamble by 6.0% during the first quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock worth $296,000 after purchasing an additional 109 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Procter & Gamble by 624.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 131,952 shares of the company’s stock worth $20,163,000 after purchasing an additional 113,745 shares during the last quarter. Calamos Wealth Management LLC lifted its stake in Procter & Gamble by 3.8% in the first quarter. Calamos Wealth Management LLC now owns 20,240 shares of the company’s stock valued at $3,093,000 after acquiring an additional 733 shares during the last quarter. Finally, Nvest Financial LLC acquired a new stake in Procter & Gamble in the first quarter valued at $432,000. 63.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Procter & Gamble

In related news, CFO Andre Schulten sold 987 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $147,388.71. Following the transaction, the chief financial officer now directly owns 27,330 shares in the company, valued at $4,081,188.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $135,442.31. Following the transaction, the insider now directly owns 6,253 shares in the company, valued at $933,760.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 987 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $147,388.71. Following the transaction, the chief financial officer now owns 27,330 shares in the company, valued at $4,081,188.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,321 shares of company stock valued at $42,559,426. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PG shares. Truist Financial cut their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Finally, Barclays decreased their price target on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.93.

Procter & Gamble Trading Up 0.4 %

Shares of Procter & Gamble stock opened at $136.21 on Friday. The Procter & Gamble Company has a 12-month low of $129.50 and a 12-month high of $165.35. The company has a market cap of $324.93 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.49 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $142.58 and its 200-day moving average price is $147.19.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. During the same period in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.

Procter & Gamble Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were issued a $0.913 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s payout ratio is 62.82%.

Procter & Gamble Profile

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

See Also

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:PGGet Rating).

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

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