Rodgers Brothers Inc. boosted its position in The Procter & Gamble Company (NYSE:PG) by 6.7% during the first quarter, Holdings Channel reports. The institutional investor owned 111,187 shares of the company’s stock after purchasing an additional 7,000 shares during the quarter. The Procter & Gamble comprises approximately 3.1% of Rodgers Brothers Inc.’s portfolio, making the stock its 3rd largest holding. Rodgers Brothers Inc.’s holdings in The Procter & Gamble were worth $15,058,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Emerson Wealth Management LLC acquired a new stake in The Procter & Gamble in the 1st quarter valued at approximately $26,000. Luken Investment Analytics LLC acquired a new position in shares of The Procter & Gamble during the 4th quarter worth approximately $34,000. Grant Street Asset Management Inc. acquired a new position in shares of The Procter & Gamble during the 4th quarter worth approximately $43,000. Goodwin Investment Advisory acquired a new position in shares of The Procter & Gamble during the 1st quarter worth approximately $43,000. Finally, Wagner Wealth Management LLC acquired a new position in shares of The Procter & Gamble during the 1st quarter worth approximately $79,000. 62.86% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on PG. UBS Group began coverage on The Procter & Gamble in a research report on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 price target on the stock. reaffirmed a “neutral” rating and set a $150.00 price target (down previously from $165.00) on shares of The Procter & Gamble in a research report on Tuesday, April 27th. Morgan Stanley lowered their price target on The Procter & Gamble from $165.00 to $155.00 and set an “overweight” rating on the stock in a research report on Monday, April 19th. Citigroup lowered The Procter & Gamble from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on The Procter & Gamble from $153.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, April 16th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Procter & Gamble has an average rating of “Buy” and a consensus price target of $148.88.
The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Monday, April 19th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.07. The business had revenue of $18.10 billion during the quarter, compared to the consensus estimate of $18 billion. The Procter & Gamble had a return on equity of 31.71% and a net margin of 18.97%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts expect that The Procter & Gamble Company will post 5.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Friday, July 23rd will be paid a $0.8698 dividend. The ex-dividend date of this dividend is Thursday, July 22nd. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.66. This represents a $3.48 annualized dividend and a yield of 2.52%. The Procter & Gamble’s payout ratio is 67.97%.
In other news, COO Jon R. Moeller sold 132,151 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $134.61, for a total transaction of $17,788,846.11. Following the completion of the sale, the chief operating officer now directly owns 253,823 shares in the company, valued at approximately $34,167,114.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nelson Peltz sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $134.65, for a total value of $134,650,000.00. Following the sale, the director now owns 5,390 shares of the company’s stock, valued at $725,763.50. The disclosure for this sale can be found here. Insiders sold a total of 2,193,740 shares of company stock valued at $295,603,005 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
About The Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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