Red Door Wealth Management LLC Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Red Door Wealth Management LLC increased its holdings in The Procter & Gamble Company (NYSE:PGGet Rating) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,561 shares of the company’s stock after purchasing an additional 1,221 shares during the period. Procter & Gamble accounts for 1.6% of Red Door Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Red Door Wealth Management LLC’s holdings in Procter & Gamble were worth $4,250,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. PrairieView Partners LLC lifted its holdings in shares of Procter & Gamble by 5.8% in the 1st quarter. PrairieView Partners LLC now owns 1,141 shares of the company’s stock valued at $174,000 after purchasing an additional 63 shares during the last quarter. Apeiron RIA LLC increased its position in Procter & Gamble by 2.2% in the 1st quarter. Apeiron RIA LLC now owns 2,985 shares of the company’s stock valued at $475,000 after acquiring an additional 64 shares during the period. Ambassador Advisors LLC increased its position in Procter & Gamble by 2.2% in the 4th quarter. Ambassador Advisors LLC now owns 3,033 shares of the company’s stock valued at $496,000 after acquiring an additional 65 shares during the period. Perennial Investment Advisors LLC increased its position in Procter & Gamble by 1.1% in the 1st quarter. Perennial Investment Advisors LLC now owns 5,889 shares of the company’s stock valued at $900,000 after acquiring an additional 65 shares during the period. Finally, Tranquility Partners LLC increased its position in Procter & Gamble by 3.9% in the 1st quarter. Tranquility Partners LLC now owns 1,757 shares of the company’s stock valued at $268,000 after acquiring an additional 66 shares during the period. 63.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Evercore ISI set a $170.00 target price on Procter & Gamble in a research report on Monday, June 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.93.

Procter & Gamble Stock Performance

PG opened at $135.73 on Thursday. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $142.76 and its 200 day simple moving average is $147.31. The stock has a market cap of $323.78 billion, a P/E ratio of 23.36, a P/E/G ratio of 3.53 and a beta of 0.35.

Procter & Gamble (NYSE:PGGet Rating) last posted its earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. During the same period in the previous year, the company posted $1.13 EPS. Procter & Gamble’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were paid a $0.913 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, July 21st. Procter & Gamble’s payout ratio is currently 62.82%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Mary Theresa Grabowski sold 10,397 shares of the 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 owns 4,353 shares of the company’s stock, valued at approximately $635,538. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Procter & Gamble news, CEO Jennifer L. Davis sold 27,809 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $147.95, for a total transaction of $4,114,341.55. Following the transaction, the chief executive officer now owns 32,895 shares of the company’s stock, valued at approximately $4,866,815.25. The sale 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 stock in a transaction on Friday, August 26th. The stock was sold at an average price of $146.00, for a total value of $1,517,962.00. Following the transaction, the insider now directly owns 4,353 shares in the company, valued at approximately $635,538. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,321 shares of company stock valued at $42,559,426. 0.26% of the stock is owned by corporate insiders.

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.

See Also

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

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