Klingenstein Fields & Co. LLC Reduces Position in Procter & Gamble Co (PG)

Klingenstein Fields & Co. LLC decreased its stake in shares of Procter & Gamble Co (NYSE:PG) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,599 shares of the company’s stock after selling 3,242 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Procter & Gamble were worth $22,575,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Eukles Asset Management purchased a new position in Procter & Gamble during the fourth quarter valued at $80,000. Mackey Komara & Dankovich LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth $94,000. Ayalon Holdings Ltd. purchased a new position in shares of Procter & Gamble in the third quarter worth $108,000. First Mercantile Trust Co. purchased a new position in shares of Procter & Gamble in the third quarter worth $111,000. Finally, Willingdon Wealth Management raised its stake in shares of Procter & Gamble by 4,668.6% in the third quarter. Willingdon Wealth Management now owns 1,669 shares of the company’s stock worth $139,000 after purchasing an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 61.76% of the company’s stock.

In related news, SVP Valarie L. Sheppard sold 1,236 shares of Procter & Gamble stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $100.12, for a total value of $123,748.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary A. Coombe sold 9,000 shares of Procter & Gamble stock in a transaction on Monday, January 28th. The stock was sold at an average price of $93.90, for a total value of $845,100.00. Following the completion of the sale, the insider now directly owns 18,517 shares of the company’s stock, valued at approximately $1,738,746.30. The disclosure for this sale can be found here. Insiders sold 2,270,496 shares of company stock valued at $224,931,027 in the last ninety days. 1.84% of the stock is currently owned by corporate insiders.

Shares of PG opened at $106.42 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.78 and a quick ratio of 0.61. Procter & Gamble Co has a one year low of $70.73 and a one year high of $106.50. The firm has a market capitalization of $266.55 billion, a P/E ratio of 25.22, a PEG ratio of 3.40 and a beta of 0.38.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 23rd. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.04. Procter & Gamble had a return on equity of 21.41% and a net margin of 16.13%. The company had revenue of $17.44 billion during the quarter, compared to analyst estimates of $17.16 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. Procter & Gamble’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Procter & Gamble Co will post 4.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $0.7459 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $2.98 annualized dividend and a dividend yield of 2.80%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s payout ratio is presently 68.01%.

Several research firms have recently weighed in on PG. Macquarie set a $110.00 price target on Procter & Gamble and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Barclays restated a “hold” rating and issued a $94.00 price target on shares of Procter & Gamble in a research note on Friday, January 25th. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Monday, January 21st. Evercore ISI began coverage on Procter & Gamble in a research note on Thursday, January 10th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Morgan Stanley set a $111.00 price target on Procter & Gamble and gave the stock a “buy” rating in a research note on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Procter & Gamble currently has an average rating of “Hold” and an average target price of $97.74.

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About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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

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