State of Tennessee Treasury Department reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 370,759 shares of the company’s stock after selling 36,277 shares during the quarter. State of Tennessee Treasury Department’s holdings in Procter & Gamble were worth $55,128,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silicon Valley Capital Partners acquired a new position in Procter & Gamble in the 4th quarter worth about $28,000. GW&K Investment Management LLC acquired a new position in shares of Procter & Gamble in the first quarter valued at approximately $28,000. IAG Wealth Partners LLC raised its holdings in Procter & Gamble by 58.8% in the 1st quarter. IAG Wealth Partners LLC now owns 243 shares of the company’s stock valued at $36,000 after buying an additional 90 shares during the last quarter. Kepos Capital LP acquired a new stake in Procter & Gamble during the 4th quarter worth approximately $38,000. Finally, Ten Capital Wealth Advisors LLC grew its holdings in Procter & Gamble by 325.8% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 264 shares of the company’s stock worth $39,000 after acquiring an additional 202 shares during the last quarter. Institutional investors own 63.43% of the company’s stock.
Procter & Gamble Stock Performance
Shares of NYSE PG traded down $0.37 during mid-day trading on Friday, reaching $153.22. 901,792 shares of the company’s stock were exchanged, compared to its average volume of 6,214,543. The firm has a market capitalization of $361.19 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 3.78 and a beta of 0.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.44. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.38. The firm has a 50-day moving average price of $153.13 and a two-hundred day moving average price of $149.62.
Procter & Gamble Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st were issued a $0.9407 dividend. The ex-dividend date was Thursday, July 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.46%. Procter & Gamble’s payout ratio is currently 63.73%.
Insider Buying and Selling at Procter & Gamble
In related news, CEO Ma. Fatima Francisco sold 8,387 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $156.87, for a total value of $1,315,668.69. Following the transaction, the chief executive officer now owns 962 shares of the company’s stock, valued at $150,908.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 8,387 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $156.87, for a total value of $1,315,668.69. Following the completion of the sale, the chief executive officer now owns 962 shares of the company’s stock, valued at approximately $150,908.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew W. Janzaruk sold 33,022 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total transaction of $5,160,017.72. Following the completion of the sale, the chief accounting officer now directly owns 888 shares of the company’s stock, valued at $138,758.88. The disclosure for this sale can be found here. Insiders sold a total of 106,607 shares of company stock worth $16,523,793 over the last three months. 0.17% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $174.00 price objective on shares of Procter & Gamble in a research report on Tuesday, August 1st. William Blair began coverage on Procter & Gamble in a report on Friday. They set a “market perform” rating for the company. They noted that the move was a valuation call. Barclays raised their price objective on shares of Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Finally, Bank of America raised their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.82.
About Procter & Gamble
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.
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