Eagle Asset Management Inc. Sells 18,282 Shares of The Procter & Gamble Company (NYSE:PG)

Eagle Asset Management Inc. decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 826,672 shares of the company’s stock after selling 18,282 shares during the quarter. Eagle Asset Management Inc.’s holdings in Procter & Gamble were worth $138,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acorn Creek Capital LLC lifted its position in shares of Procter & Gamble by 2.8% during the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after acquiring an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. grew its stake in Procter & Gamble by 1.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares during the period. Hudson Value Partners LLC raised its stake in shares of Procter & Gamble by 4.1% during the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after purchasing an additional 60 shares during the period. Traveka Wealth LLC boosted its holdings in shares of Procter & Gamble by 1.7% in the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after buying an additional 60 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its holdings in Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after buying an additional 61 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. This represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,693 shares of company stock worth $27,311,345 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PG shares. DA Davidson reissued a “neutral” rating and set a $160.00 target price on shares of Procter & Gamble in a research report on Wednesday. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Stock Up 1.0 %

Shares of NYSE PG opened at $172.68 on Friday. The firm’s fifty day moving average is $170.00 and its 200 day moving average is $168.54. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company has a market cap of $406.67 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 3.69 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 earnings per share. On average, equities research analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.33%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.