Bowen Hanes & Co. Inc. grew its stake in Procter & Gamble Co (NYSE:PG) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,869 shares of the company’s stock after purchasing an additional 2,332 shares during the period. Procter & Gamble comprises approximately 1.8% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 24th largest holding. Bowen Hanes & Co. Inc.’s holdings in Procter & Gamble were worth $41,653,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in Procter & Gamble during the second quarter worth $25,000. Camarda Financial Advisors LLC boosted its position in Procter & Gamble by 59.2% during the second quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in Procter & Gamble during the fourth quarter worth $36,000. Dougherty Wealth Advisers LLC boosted its position in Procter & Gamble by 250.0% during the second quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Finally, Smart Portfolios LLC raised its holdings in shares of Procter & Gamble by 48.0% in the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. 65.63% of the stock is owned by institutional investors and hedge funds.
In related news, insider Mary Theresa Grabowski sold 5,200 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.10, for a total transaction of $619,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Valarie L. Sheppard sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total value of $2,043,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,674 shares of company stock valued at $53,197,461. 1.75% of the stock is currently owned by insiders.
Shares of NYSE PG opened at $124.57 on Friday. The firm has a market cap of $307.87 billion, a P/E ratio of 27.56, a PEG ratio of 3.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.75. The stock has a fifty day moving average price of $120.43 and a two-hundred day moving average price of $111.16. Procter & Gamble Co has a 1 year low of $78.49 and a 1 year high of $125.00.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.04. The business had revenue of $17.09 billion during the quarter, compared to analyst estimates of $16.86 billion. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. On average, research analysts predict that Procter & Gamble Co will post 4.84 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on PG shares. UBS Group set a $122.00 price target on Procter & Gamble and gave the stock a “hold” rating in a report on Wednesday, July 31st. Scotiabank reissued a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. Stifel Nicolaus set a $117.00 price target on Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday, July 31st. Goldman Sachs Group raised Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $125.00 in a research report on Thursday, June 27th. Finally, TheStreet downgraded Procter & Gamble from an “a-” rating to a “c+” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $108.89.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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