Nemes Rush Group LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Nemes Rush Group LLC lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,857 shares of the company’s stock after selling 436 shares during the quarter. Nemes Rush Group LLC’s holdings in Procter & Gamble were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Magnolia Capital Advisors LLC purchased a new position in Procter & Gamble in the second quarter worth about $4,466,000. Doheny Asset Management CA bought a new position in shares of Procter & Gamble during the 2nd quarter valued at approximately $905,000. Buck Wealth Strategies LLC purchased a new stake in Procter & Gamble during the 2nd quarter valued at $6,891,000. Kathmere Capital Management LLC boosted its stake in Procter & Gamble by 14.8% during the second quarter. Kathmere Capital Management LLC now owns 15,287 shares of the company’s stock worth $2,521,000 after buying an additional 1,967 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc increased its position in Procter & Gamble by 5.1% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,023 shares of the company’s stock valued at $993,000 after acquiring an additional 290 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.2 %

Shares of NYSE:PG opened at $173.55 on Friday. The company has a market capitalization of $409.60 billion, a PE ratio of 28.36, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $177.94. The business’s fifty day simple moving average is $170.79 and its 200-day simple moving average is $166.17.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insider Activity

In related news, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,553 shares of company stock worth $63,829,141. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their target price on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.89.

Procter & Gamble Profile

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.