Nuveen Asset Management LLC decreased its stake in Procter & Gamble Co (NYSE:PG) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,109,630 shares of the company’s stock after selling 1,659,882 shares during the period. Procter & Gamble accounts for approximately 0.8% of Nuveen Asset Management LLC’s holdings, making the stock its 18th largest position. Nuveen Asset Management LLC’s holdings in Procter & Gamble were worth $1,926,229,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PG. Morgan Stanley grew its holdings in shares of Procter & Gamble by 54.8% in the 1st quarter. Morgan Stanley now owns 20,883,111 shares of the company’s stock valued at $2,297,142,000 after acquiring an additional 7,392,929 shares in the last quarter. GQG Partners LLC acquired a new stake in Procter & Gamble in the 2nd quarter valued at about $588,945,000. Janus Henderson Group PLC lifted its stake in Procter & Gamble by 72.2% in the 1st quarter. Janus Henderson Group PLC now owns 10,768,053 shares of the company’s stock valued at $1,184,519,000 after purchasing an additional 4,515,204 shares during the last quarter. Franklin Resources Inc. lifted its stake in Procter & Gamble by 66.4% in the 1st quarter. Franklin Resources Inc. now owns 10,508,172 shares of the company’s stock valued at $1,155,899,000 after purchasing an additional 4,191,966 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Procter & Gamble by 10.2% in the 1st quarter. Wellington Management Group LLP now owns 28,092,901 shares of the company’s stock valued at $3,090,220,000 after purchasing an additional 2,609,549 shares during the last quarter. Institutional investors own 62.81% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Procter & Gamble from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Deutsche Bank raised their price objective on shares of Procter & Gamble from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. SunTrust Banks raised their price objective on shares of Procter & Gamble from $115.00 to $120.00 in a research report on Wednesday, July 22nd. Morgan Stanley reiterated a “buy” rating and issued a $144.00 price target on shares of Procter & Gamble in a research report on Tuesday, August 18th. Finally, Barclays reiterated a “buy” rating on shares of Procter & Gamble in a research report on Sunday, August 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Procter & Gamble presently has a consensus rating of “Buy” and an average price target of $133.67.
Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, July 30th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $16.97 billion. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.53%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Equities analysts expect that Procter & Gamble Co will post 5.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were paid a dividend of $0.7907 per share. The ex-dividend date was Thursday, July 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.28%. Procter & Gamble’s payout ratio is presently 61.72%.
In other news, VP Valarie L. Sheppard sold 4,688 shares of Procter & Gamble stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $138.28, for a total transaction of $648,256.64. Following the transaction, the vice president now owns 26,704 shares in the company, valued at $3,692,629.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jon R. Moeller sold 81,755 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $136.18, for a total transaction of $11,133,395.90. In the last ninety days, insiders have sold 272,757 shares of company stock worth $36,738,374. Insiders own 0.70% of the company’s stock.
Procter & Gamble 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.
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