Palladium Partners LLC Acquires 17,122 Shares of Procter & Gamble Co (PG)

Palladium Partners LLC raised its holdings in shares of Procter & Gamble Co (NYSE:PG) by 12.0% during the second quarter, Holdings Channel reports. The fund owned 159,358 shares of the company’s stock after buying an additional 17,122 shares during the period. Palladium Partners LLC’s holdings in Procter & Gamble were worth $12,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Tree Management LP bought a new position in shares of Procter & Gamble in the first quarter worth approximately $144,000. Clearwater Capital Advisors LLC bought a new position in shares of Procter & Gamble in the first quarter worth approximately $154,000. Corbyn Investment Management Inc. MD bought a new position in shares of Procter & Gamble in the first quarter worth approximately $157,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Procter & Gamble by 296.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock worth $162,000 after purchasing an additional 1,524 shares during the last quarter. Finally, Financial Gravity Wealth Inc. bought a new position in shares of Procter & Gamble in the first quarter worth approximately $170,000. Institutional investors and hedge funds own 58.36% of the company’s stock.

Shares of Procter & Gamble stock opened at $82.40 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40. The firm has a market cap of $209.82 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.68 and a beta of 0.59. Procter & Gamble Co has a 12 month low of $70.73 and a 12 month high of $93.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $16.50 billion during the quarter, compared to analyst estimates of $16.52 billion. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Sell-side analysts anticipate that Procter & Gamble Co will post 4.42 EPS for the current year.

A number of brokerages recently commented on PG. Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America raised their price target on Procter & Gamble from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 4th. Atlantic Securities began coverage on Procter & Gamble in a research note on Thursday, September 20th. They issued an “overweight” rating and a $94.00 price target for the company. ValuEngine raised Procter & Gamble from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $78.00 price target on shares of Procter & Gamble in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $84.53.

In other Procter & Gamble news, insider Kathleen B. Fish sold 26,946 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $80.55, for a total transaction of $2,170,500.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Taylor sold 21,029 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $83.52, for a total value of $1,756,342.08. The disclosure for this sale can be found here. Insiders have sold 147,186 shares of company stock valued at $12,080,849 in the last three months. Insiders own 1.84% of the company’s stock.

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.

See Also: What Is An Exchange-Traded Fund (ETF)?

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

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