Meyer Handelman Co. decreased its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 584,234 shares of the company’s stock after selling 8,800 shares during the period. Procter & Gamble accounts for 3.6% of Meyer Handelman Co.’s investment portfolio, making the stock its 3rd biggest holding. Meyer Handelman Co.’s holdings in Procter & Gamble were worth $86,870,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC increased its holdings in shares of Procter & Gamble by 4.9% during the 4th quarter. Capital Investment Advisory Services LLC now owns 36,681 shares of the company’s stock worth $5,559,000 after purchasing an additional 1,711 shares during the period. Deuterium Capital Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $675,000. CX Institutional increased its holdings in shares of Procter & Gamble by 4.1% during the 4th quarter. CX Institutional now owns 33,743 shares of the company’s stock worth $5,114,000 after purchasing an additional 1,320 shares during the period. Oak Harbor Wealth Partners LLC increased its holdings in shares of Procter & Gamble by 11.1% during the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock worth $4,682,000 after purchasing an additional 3,089 shares during the period. Finally, Blue Chip Partners LLC increased its holdings in shares of Procter & Gamble by 1.9% during the 4th quarter. Blue Chip Partners LLC now owns 21,503 shares of the company’s stock worth $3,259,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.
Insider Activity at Procter & Gamble
In related news, CAO Matthew W. Janzaruk sold 13,697 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total value of $2,133,444.72. Following the transaction, the chief accounting officer now directly owns 883 shares in the company, valued at $137,536.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $156.84, for a total value of $1,254,720.00. Following the completion of the sale, the chief executive officer now owns 9,343 shares of the company’s stock, valued at $1,465,356.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew W. Janzaruk sold 13,697 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the completion of the sale, the chief accounting officer now directly owns 883 shares of the company’s stock, valued at approximately $137,536.08. The disclosure for this sale can be found here. Insiders have sold 95,093 shares of company stock worth $14,821,930 over the last ninety days. Company insiders own 0.26% of the company’s stock.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Rating) last announced its earnings results on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The company had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period in the prior year, the business earned $1.33 earnings per share. Procter & Gamble’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were issued a $0.9407 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s dividend payout ratio is currently 65.51%.
Analysts Set New Price Targets
A number of research firms recently weighed in on PG. UBS Group upped their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Raymond James upped their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Sunday, April 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Evercore ISI upped their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Finally, Royal Bank of Canada upped their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $161.50.
Procter & Gamble Company 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.
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