Reliant Investment Management LLC cut its holdings in Procter & Gamble Co (NYSE:PG) by 57.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,835 shares of the company’s stock after selling 3,751 shares during the quarter. Reliant Investment Management LLC’s holdings in Procter & Gamble were worth $339,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in shares of Procter & Gamble by 0.6% in the second quarter. Toronto Dominion Bank now owns 2,700,064 shares of the company’s stock valued at $216,926,000 after acquiring an additional 17,330 shares in the last quarter. Advisor OS LLC acquired a new position in shares of Procter & Gamble in the second quarter valued at about $691,000. Neuberger Berman Group LLC grew its stake in shares of Procter & Gamble by 45.8% in the second quarter. Neuberger Berman Group LLC now owns 2,142,737 shares of the company’s stock valued at $256,111,000 after acquiring an additional 672,795 shares in the last quarter. Gleason Group Inc. grew its stake in shares of Procter & Gamble by 0.8% in the second quarter. Gleason Group Inc. now owns 16,707 shares of the company’s stock valued at $1,998,000 after acquiring an additional 126 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in Procter & Gamble during the second quarter worth about $598,000. Institutional investors and hedge funds own 62.81% of the company’s stock.
NYSE PG remained flat at $$138.63 during trading hours on Tuesday. 4,045,816 shares of the company were exchanged, compared to its average volume of 8,709,535. The company’s 50 day simple moving average is $135.14 and its two-hundred day simple moving average is $121.49. The firm has a market capitalization of $345.14 billion, a PE ratio of 27.99, a P/E/G ratio of 3.45 and a beta of 0.43. Procter & Gamble Co has a 1-year low of $94.34 and a 1-year high of $141.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.85.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $0.7907 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $3.16 dividend on an annualized basis and a yield of 2.28%. Procter & Gamble’s dividend payout ratio (DPR) is presently 61.72%.
In other Procter & Gamble news, VP Valarie L. Sheppard sold 4,688 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 26,704 shares in the company, valued at approximately $3,692,629.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Taylor sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $130.22, for a total transaction of $3,906,600.00. Following the transaction, the chief executive officer now owns 273,429 shares of the company’s stock, valued at approximately $35,605,924.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,757 shares of company stock valued at $36,738,374. 0.70% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated a “buy” rating and set a $144.00 price objective on shares of Procter & Gamble in a research note on Tuesday, August 18th. Barclays reiterated a “buy” rating on shares of Procter & Gamble in a research note on Sunday, August 2nd. Deutsche Bank increased their price objective on shares of Procter & Gamble from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. SunTrust Banks increased their target price on shares of Procter & Gamble from $115.00 to $120.00 in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group increased their target price on shares of Procter & Gamble from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $133.67.
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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