Canal Capital Management LLC Trims Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 16th, 2023

Canal Capital Management LLC trimmed its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 10.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,565 shares of the company’s stock after selling 507 shares during the period. Canal Capital Management LLC’s holdings in Procter & Gamble were worth $692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Advisory Services LLC increased its stake in shares of Procter & Gamble by 7.4% during the fourth quarter. Kestra Advisory Services LLC now owns 330,836 shares of the company’s stock worth $50,142,000 after acquiring an additional 22,817 shares during the period. Triumph Capital Management increased its stake in shares of Procter & Gamble by 3.8% during the fourth quarter. Triumph Capital Management now owns 10,051 shares of the company’s stock worth $1,523,000 after acquiring an additional 371 shares during the period. Woodmont Investment Counsel LLC increased its stake in shares of Procter & Gamble by 0.3% during the fourth quarter. Woodmont Investment Counsel LLC now owns 81,692 shares of the company’s stock worth $12,381,000 after acquiring an additional 225 shares during the period. AE Wealth Management LLC increased its stake in shares of Procter & Gamble by 0.6% during the fourth quarter. AE Wealth Management LLC now owns 357,994 shares of the company’s stock worth $54,258,000 after acquiring an additional 2,243 shares during the period. Finally, Source Financial Advisors LLC increased its stake in shares of Procter & Gamble by 4.7% during the fourth quarter. Source Financial Advisors LLC now owns 2,157 shares of the company’s stock worth $327,000 after acquiring an additional 97 shares during the period. 62.13% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Down 0.5 %

PG stock opened at $151.00 on Friday. The company’s 50 day simple moving average is $143.01 and its 200-day simple moving average is $142.19. The firm has a market capitalization of $356.23 billion, a PE ratio of 26.49, a P/E/G ratio of 4.24 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $122.18 and a 12 month high of $164.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37.

Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.58 by $0.01. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 earnings per share. Equities analysts expect that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be paid a dividend of $0.9407 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.49%. Procter & Gamble’s dividend payout ratio is presently 64.04%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Raymond James boosted their price target on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 13th. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. StockNews.com initiated coverage on shares of Procter & Gamble in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Barclays upped their target price on shares of Procter & Gamble from $158.00 to $160.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.13.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the transaction, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, CFO Andre Schulten sold 1,311 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $180,052.74. Following the transaction, the chief financial officer now owns 35,142 shares of the company’s stock, valued at $4,826,402.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 2,151 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $295,418.34. Following the transaction, the chief executive officer now directly owns 226,748 shares in the company, valued at approximately $31,141,570.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock valued at $656,511. Company insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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

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