Spinnaker Trust Sells 100 Shares of The Procter & Gamble Company (NYSE:PG)

Spinnaker Trust cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,411 shares of the company’s stock after selling 100 shares during the period. Spinnaker Trust’s holdings in Procter & Gamble were worth $6,361,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PG. Wellington Management Group LLP boosted its stake in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. Northern Trust Corp boosted its position in Procter & Gamble by 2.3% during the 3rd quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock valued at $4,275,616,000 after buying an additional 670,862 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Procter & Gamble by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,003,260 shares of the company’s stock worth $2,298,184,000 after acquiring an additional 131,339 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Procter & Gamble by 3.2% during the third quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after acquiring an additional 346,925 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Procter & Gamble by 17.1% during the fourth quarter. California Public Employees Retirement System now owns 9,492,039 shares of the company’s stock worth $1,390,963,000 after purchasing an additional 1,387,539 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PG has been the subject of several research analyst reports. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $175.00 in a report on Monday, March 11th. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, January 18th. Raymond James raised their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday. Finally, UBS Group raised their price objective on Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $169.76.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock traded down $1.31 during trading hours on Friday, reaching $161.24. 5,659,643 shares of the stock traded hands, compared to its average volume of 6,957,020. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $164.32. The firm has a market capitalization of $380.55 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 3.30 and a beta of 0.44. The company has a 50 day moving average price of $159.64 and a 200 day moving average price of $153.51.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. During the same period in the prior year, the business posted $1.37 EPS. Procter & Gamble’s revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.50%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the sale, the insider now owns 11,507 shares in the company, valued at $1,858,265.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the transaction, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,865 shares of company stock worth $16,029,280. Company insiders own 0.17% of the company’s stock.

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.