Chesley Taft & Associates LLC Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Chesley Taft & Associates LLC reduced its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,146 shares of the company’s stock after selling 408 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Procter & Gamble were worth $6,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Procter & Gamble by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock valued at $33,236,946,000 after acquiring an additional 2,394,234 shares in the last quarter. BlackRock Inc. increased its holdings in Procter & Gamble by 1.2% during the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after acquiring an additional 1,785,863 shares in the last quarter. State Street Corp increased its holdings in Procter & Gamble by 1.7% during the 4th quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after acquiring an additional 1,716,517 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Procter & Gamble by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock valued at $3,627,510,000 after acquiring an additional 983,197 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Procter & Gamble during the fourth quarter worth about $3,726,603,000. 63.45% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.6 %

Shares of PG stock opened at $138.28 on Friday. The stock has a market cap of $329.87 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 3.55 and a beta of 0.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $129.50 and a fifty-two week high of $165.35. The firm’s 50 day moving average price is $143.26 and its two-hundred day moving average price is $147.67.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. On average, analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were given a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a yield of 2.64%. Procter & Gamble’s dividend payout ratio (DPR) is 62.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI set a $170.00 price target on shares of Procter & Gamble in a report on Monday, June 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Barclays lowered their price target on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a report on Tuesday, August 2nd. Truist Financial lowered their price target on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 1st. Finally, StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $162.93.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $135,442.31. Following the transaction, the insider now directly owns 6,253 shares of the company’s stock, valued at $933,760.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $135,442.31. Following the transaction, the insider now directly owns 6,253 shares of the company’s stock, valued at $933,760.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mary Theresa Grabowski sold 10,397 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the transaction, the insider now directly owns 4,353 shares in the company, valued at $635,538. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,321 shares of company stock valued at $42,559,426. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

Featured Stories

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

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.