Rench Wealth Management Inc. Sells 954 Shares of The Procter & Gamble Company (NYSE:PG)

Rench Wealth Management Inc. trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,832 shares of the company’s stock after selling 954 shares during the quarter. Procter & Gamble makes up about 3.3% of Rench Wealth Management Inc.’s holdings, making the stock its 6th biggest position. Rench Wealth Management Inc.’s holdings in Procter & Gamble were worth $9,670,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Reynders McVeigh Capital Management LLC increased its stake in Procter & Gamble by 0.5% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 153,639 shares of the company’s stock valued at $26,610,000 after buying an additional 712 shares during the period. IHT Wealth Management LLC increased its stake in Procter & Gamble by 38.9% in the 3rd quarter. IHT Wealth Management LLC now owns 79,384 shares of the company’s stock valued at $13,740,000 after buying an additional 22,230 shares during the period. Investmark Advisory Group LLC increased its stake in Procter & Gamble by 1.6% in the 3rd quarter. Investmark Advisory Group LLC now owns 26,237 shares of the company’s stock valued at $4,544,000 after buying an additional 405 shares during the period. Investment Management Corp of Ontario increased its stake in Procter & Gamble by 26.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 122,045 shares of the company’s stock valued at $21,138,000 after buying an additional 25,900 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in Procter & Gamble by 138.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 401 shares of the company’s stock valued at $69,000 after buying an additional 233 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Price Performance

NYSE:PG opened at $175.11 on Thursday. The firm has a market cap of $412.39 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 3.78 and a beta of 0.44. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average is $170.70 and its two-hundred day moving average is $169.29. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last released its earnings results 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 company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. Research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Activity

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock valued at $14,629,038 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PG. Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. DA Davidson upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $160.00 to $209.00 in a research report on Monday, November 25th. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research report on Monday, September 30th. Finally, Evercore ISI boosted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Company Profile

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.