Cohen & Steers Inc. cut its holdings in shares of Procter & Gamble Co (NYSE:PG) by 21.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,941 shares of the company’s stock after selling 541 shares during the quarter. Cohen & Steers Inc.’s holdings in Procter & Gamble were worth $162,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Tortoise Investment Management LLC raised its holdings in shares of Procter & Gamble by 7.1% in the 3rd quarter. Tortoise Investment Management LLC now owns 3,011 shares of the company’s stock valued at $251,000 after purchasing an additional 200 shares during the period. WealthPLAN Partners LLC grew its stake in Procter & Gamble by 5.6% in the 3rd quarter. WealthPLAN Partners LLC now owns 9,012 shares of the company’s stock valued at $831,000 after buying an additional 476 shares during the last quarter. Diversified Trust Co grew its stake in Procter & Gamble by 1.2% in the 3rd quarter. Diversified Trust Co now owns 19,059 shares of the company’s stock valued at $1,586,000 after buying an additional 220 shares during the last quarter. J. L. Bainbridge & Co. Inc. acquired a new position in Procter & Gamble in the 3rd quarter valued at about $505,000. Finally, Palo Capital Inc. acquired a new position in Procter & Gamble in the 3rd quarter valued at about $739,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman David S. Taylor sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $99.09, for a total transaction of $2,972,700.00. Following the completion of the sale, the chairman now owns 223,849 shares of the company’s stock, valued at approximately $22,181,197.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,208,754 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $99.08, for a total transaction of $119,763,346.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,270,496 shares of company stock valued at $224,931,027. 1.84% of the stock is currently owned by insiders.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.04. Procter & Gamble had a net margin of 16.13% and a return on equity of 21.41%. The company had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $17.16 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Procter & Gamble Co will post 4.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, January 18th were issued a dividend of $0.7172 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Thursday, January 17th. Procter & Gamble’s dividend payout ratio (DPR) is presently 68.01%.
A number of brokerages recently commented on PG. Zacks Investment Research upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Monday, January 21st. Evercore ISI began coverage on shares of Procter & Gamble in a research note on Thursday, January 10th. They issued an “outperform” rating and a $105.00 price target on the stock. Barclays reiterated a “hold” rating and issued a $89.00 price target on shares of Procter & Gamble in a research note on Tuesday, January 8th. Bank of America upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Thursday, December 13th. Finally, Scotiabank restated a “buy” rating on shares of Procter & Gamble in a research report on Wednesday, January 30th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.21.
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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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