Country Trust Bank Lowers Holdings in Procter & Gamble Company (The) $PG

Country Trust Bank cut its holdings in Procter & Gamble Company (The) (NYSE:PG) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,231 shares of the company’s stock after selling 4,064 shares during the period. Procter & Gamble accounts for 0.9% of Country Trust Bank’s holdings, making the stock its 27th biggest holding. Country Trust Bank’s holdings in Procter & Gamble were worth $47,612,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in Procter & Gamble in the 3rd quarter worth approximately $25,000. Saranac Partners Ltd purchased a new position in Procter & Gamble in the 3rd quarter worth approximately $30,000. Corundum Trust Company INC purchased a new position in Procter & Gamble in the 3rd quarter worth approximately $32,000. Caitlin John LLC bought a new stake in Procter & Gamble in the 3rd quarter worth approximately $34,000. Finally, Marquette Asset Management LLC bought a new stake in Procter & Gamble in the 3rd quarter worth approximately $37,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Procter & Gamble in a research note on Friday, March 27th. Piper Sandler initiated coverage on Procter & Gamble in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $150.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Procter & Gamble from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $157.00 to $165.00 in a research note on Friday, January 23rd. Finally, TD Cowen reduced their price objective on Procter & Gamble from $156.00 to $142.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.06.

Procter & Gamble Stock Performance

NYSE PG opened at $142.74 on Tuesday. The company has a market cap of $331.73 billion, a P/E ratio of 21.15, a P/E/G ratio of 5.04 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72. The business’s 50 day moving average price is $153.43 and its 200-day moving average price is $149.46. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $171.65.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. Sell-side analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a dividend yield of 3.0%. Procter & Gamble’s payout ratio is currently 62.52%.

Insider Activity

In other news, insider Marc S. Pritchard sold 95,903 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $151.15, for a total transaction of $14,495,738.45. Following the transaction, the insider owned 182,607 shares of the company’s stock, valued at approximately $27,601,048.05. The trade was a 34.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,827 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $160.31, for a total value of $2,056,296.37. Following the transaction, the insider directly owned 12,639 shares in the company, valued at approximately $2,026,158.09. This represents a 50.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 348,618 shares of company stock worth $55,462,643. Company insiders own 0.20% of the company’s stock.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.