The Procter & Gamble Company (NYSE:PG) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in The Procter & Gamble Company (NYSE:PG) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,176 shares of the company’s stock after purchasing an additional 23,169 shares during the period. CIBC Asset Management Inc’s holdings in Procter & Gamble were worth $77,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after purchasing an additional 733,440 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Procter & Gamble by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after purchasing an additional 79,665 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Procter & Gamble by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,716,799 shares of the company’s stock worth $990,150,000 after purchasing an additional 72,851 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Procter & Gamble by 3.9% during the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after buying an additional 216,300 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on 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 sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The trade was a 12.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock valued at $53,268,499 over the last quarter. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $167.08 on Friday. The firm has a market cap of $393.48 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The firm’s 50-day simple moving average is $170.61 and its 200-day simple moving average is $168.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PG. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. TD Cowen initiated coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

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.