Biltmore Capital Advisors LLC lessened its position in shares of Procter & Gamble Co (NYSE:PG) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,457 shares of the company’s stock after selling 931 shares during the quarter. Biltmore Capital Advisors LLC’s holdings in Procter & Gamble were worth $1,550,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PG. Krane Funds Advisors LLC purchased a new stake in Procter & Gamble during the 2nd quarter worth about $25,000. Lucia Wealth Services LLC purchased a new stake in Procter & Gamble during the 3rd quarter worth about $29,000. Camarda Financial Advisors LLC grew its holdings in Procter & Gamble by 59.2% in the 2nd quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Selective Wealth Management Inc. purchased a new stake in Procter & Gamble in the 3rd quarter valued at about $35,000. Finally, Dougherty Wealth Advisers LLC grew its holdings in Procter & Gamble by 250.0% in the 2nd quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock valued at $38,000 after buying an additional 250 shares during the period. 65.62% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on PG. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 price target on shares of Procter & Gamble in a report on Tuesday, July 30th. SunTrust Banks lifted their price target on Procter & Gamble to $120.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Co lifted their price target on Procter & Gamble from $135.00 to $136.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Goldman Sachs Group restated a “buy” rating and issued a $136.00 price target on shares of Procter & Gamble in a report on Wednesday, October 23rd. Finally, Macquarie lifted their price target on Procter & Gamble from $132.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $115.00.
Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.13. Procter & Gamble had a return on equity of 25.07% and a net margin of 6.24%. The business had revenue of $17.80 billion during the quarter, compared to analysts’ expectations of $17.43 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts predict that Procter & Gamble Co will post 4.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, October 17th. Procter & Gamble’s payout ratio is currently 65.93%.
In other news, Vice Chairman Jon R. Moeller sold 141,575 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $118.05, for a total transaction of $16,712,928.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Valarie L. Sheppard sold 1,729 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $119.80, for a total value of $207,134.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,645,966 shares of company stock valued at $202,229,770 in the last quarter. Company insiders own 1.75% 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.
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