Procter & Gamble Co (NYSE:PG) Short Interest Down 7.9% in June

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Procter & Gamble Co (NYSE:PG) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 21,090,500 shares, a drop of 7.9% from the May 30th total of 22,910,400 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 7,060,000 shares, the days-to-cover ratio is currently 3.0 days.

Shares of NYSE:PG traded up $0.39 during midday trading on Monday, hitting $115.38. The stock had a trading volume of 192,087 shares, compared to its average volume of 6,864,955. The stock has a market cap of $288.43 billion, a P/E ratio of 27.35, a PEG ratio of 3.49 and a beta of 0.45. The company’s 50 day moving average price is $109.58. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.39. Procter & Gamble has a 1 year low of $77.54 and a 1 year high of $115.21.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The business had revenue of $16.46 billion for the quarter, compared to the consensus estimate of $16.37 billion. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Equities analysts forecast that Procter & Gamble will post 4.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.7459 dividend. This represents a $2.98 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, July 18th. Procter & Gamble’s payout ratio is 70.62%.

In related news, Director Trian Fund Management, L.P. sold 71,500 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $104.62, for a total value of $7,480,330.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carolyn M. Tastad sold 3,980 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $105.85, for a total transaction of $421,283.00. Following the completion of the transaction, the insider now directly owns 46,495 shares in the company, valued at $4,921,495.75. The disclosure for this sale can be found here. Insiders sold a total of 320,840 shares of company stock worth $33,904,086 over the last 90 days. Company insiders own 1.84% of the company’s stock.

Several large investors have recently modified their holdings of the company. SeaBridge Investment Advisors LLC acquired a new position in Procter & Gamble during the fourth quarter worth about $36,000. Smart Portfolios LLC raised its position in Procter & Gamble by 48.0% during the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Intercontinental Wealth Advisors LLC acquired a new position in Procter & Gamble during the fourth quarter worth about $62,000. Stevens First Principles Investment Advisors raised its position in Procter & Gamble by 239.8% during the fourth quarter. Stevens First Principles Investment Advisors now owns 683 shares of the company’s stock worth $63,000 after acquiring an additional 482 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in Procter & Gamble by 301.3% during the second quarter. Advocacy Wealth Management Services LLC now owns 602 shares of the company’s stock worth $66,000 after acquiring an additional 452 shares during the last quarter. 62.24% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the stock. Scotiabank reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. Credit Suisse Group set a $100.00 price objective on shares of Procter & Gamble and gave the stock a “hold” rating in a research report on Friday, May 10th. DZ Bank reissued a “buy” rating on shares of Deutz in a research report on Wednesday, April 24th. UBS Group raised their price objective on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a research report on Wednesday, April 24th. Finally, Barclays lowered their price objective on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Procter & Gamble currently has an average rating of “Hold” and a consensus target price of $102.32.

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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