Main Street Group LTD Reduces Position in The Procter & Gamble Company (NYSE:PG)

Main Street Group LTD reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,270 shares of the company’s stock after selling 92 shares during the period. Main Street Group LTD’s holdings in Procter & Gamble were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of Procter & Gamble by 0.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 246,651 shares of the company’s stock worth $40,678,000 after acquiring an additional 2,282 shares in the last quarter. Hanlon Investment Management Inc. increased its stake in Procter & Gamble by 14.7% in the second quarter. Hanlon Investment Management Inc. now owns 2,412 shares of the company’s stock valued at $398,000 after purchasing an additional 309 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in Procter & Gamble during the second quarter worth approximately $423,000. Commonwealth Retirement Investments LLC lifted its position in shares of Procter & Gamble by 4.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 28,346 shares of the company’s stock worth $4,675,000 after buying an additional 1,247 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Procter & Gamble by 16.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,803 shares of the company’s stock valued at $792,000 after buying an additional 665 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PG shares. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. TD Cowen initiated coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Procter & Gamble Price Performance

PG stock traded up $0.12 on Friday, reaching $175.59. The company had a trading volume of 5,785,684 shares, compared to its average volume of 6,591,211. The company’s fifty day moving average is $168.26 and its 200 day moving average is $164.65. The company has a market cap of $414.42 billion, a P/E ratio of 28.69, a PEG ratio of 3.72 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $177.04.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. On average, research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm 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 2.29%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

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.