Procter & Gamble Co (NYSE:PG) is Camden National Bank’s 3rd Largest Position

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Camden National Bank cut its stake in Procter & Gamble Co (NYSE:PG) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,547 shares of the company’s stock after selling 1,630 shares during the period. Procter & Gamble makes up about 2.8% of Camden National Bank’s holdings, making the stock its 3rd largest holding. Camden National Bank’s holdings in Procter & Gamble were worth $12,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in Procter & Gamble in the second quarter worth approximately $25,000. Lucia Wealth Services LLC purchased a new position in Procter & Gamble in the third quarter worth approximately $29,000. Camarda Financial Advisors LLC grew its position in Procter & Gamble by 59.2% in the second quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Dougherty Wealth Advisers LLC grew its position in Procter & Gamble by 250.0% in the second quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock worth $38,000 after acquiring an additional 250 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in Procter & Gamble by 51.4% in the second quarter. Princeton Global Asset Management LLC now owns 442 shares of the company’s stock worth $48,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 65.62% of the company’s stock.

PG has been the subject of several analyst reports. Credit Suisse Group increased their price objective on Procter & Gamble from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. UBS Group set a $122.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated a “neutral” rating and issued a $89.00 price objective on shares of Procter & Gamble in a research report on Tuesday, July 30th. Stifel Nicolaus set a $117.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, TheStreet lowered Procter & Gamble from an “a-” rating to a “c+” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Procter & Gamble has a consensus rating of “Hold” and an average price target of $108.95.

NYSE:PG opened at $121.09 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $121.85 and its two-hundred day moving average is $112.67. Procter & Gamble Co has a 52 week low of $78.49 and a 52 week high of $125.36. The stock has a market capitalization of $302.64 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.51 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.04. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The company had revenue of $17.09 billion for the quarter, compared to analysts’ expectations of $16.86 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Procter & Gamble Co will post 4.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, October 17th. Procter & Gamble’s dividend payout ratio (DPR) is 65.93%.

In other Procter & Gamble news, VP Valarie L. Sheppard sold 1,259 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $120.36, for a total transaction of $151,533.24. Following the transaction, the vice president now directly owns 26,094 shares in the company, valued at $3,140,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 62,930 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $119.98, for a total value of $7,550,341.40. The disclosure for this sale can be found here. Insiders have sold 448,674 shares of company stock worth $53,197,461 over the last 90 days. 1.75% of the stock is owned by insiders.

Procter & Gamble Company Profile

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.

Further Reading: What is a Special Dividend?

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

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