Leo Brokerage LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Leo Brokerage LLC reduced its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 30.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,973 shares of the company’s stock after selling 3,542 shares during the quarter. Leo Brokerage LLC’s holdings in Procter & Gamble were worth $1,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $3,726,603,000. GQG Partners LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $1,231,791,000. CFS Investment Advisory Services LLC lifted its stake in shares of Procter & Gamble by 15,150.1% in the 1st quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock valued at $642,000 after acquiring an additional 4,048,566 shares during the last quarter. Boston Partners lifted its stake in shares of Procter & Gamble by 14,217.6% in the 1st quarter. Boston Partners now owns 3,415,888 shares of the company’s stock valued at $522,695,000 after acquiring an additional 3,392,030 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Procter & Gamble by 330.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock valued at $515,242,000 after acquiring an additional 2,588,640 shares during the last quarter. Institutional investors own 63.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PG shares. Wells Fargo & Company lowered their price target on Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Truist Financial lowered their price target on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, August 1st. UBS Group lowered their price target on Procter & Gamble to $153.00 in a research report on Friday, July 22nd. Finally, StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $137.99 on Tuesday. The stock’s 50 day moving average is $143.26 and its 200 day moving average is $147.58. 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 twelve month low of $129.50 and a twelve month high of $165.35. The company has a market capitalization of $329.18 billion, a P/E ratio of 23.75, a PEG ratio of 3.55 and a beta of 0.35.

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

Procter & Gamble Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were paid a dividend of $0.913 per share. The ex-dividend date was Thursday, July 21st. This represents a $3.65 annualized dividend and a yield of 2.65%. Procter & Gamble’s dividend payout ratio is 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the sale, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at approximately $580,770.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ma. Fatima Francisco sold 2,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total value of $290,000.00. Following the transaction, the chief executive officer now directly owns 5,026 shares in the company, valued at $728,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 289,321 shares of company stock worth $42,559,426. Insiders own 0.26% of the company’s stock.

About Procter & Gamble

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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.

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

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