Palisade Asset Management LLC Cuts Position in The Procter & Gamble Company (NYSE:PG)

Palisade Asset Management LLC lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,357 shares of the company’s stock after selling 3,387 shares during the quarter. Procter & Gamble makes up 2.0% of Palisade Asset Management LLC’s holdings, making the stock its 11th largest position. Palisade Asset Management LLC’s holdings in Procter & Gamble were worth $20,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Procter & Gamble by 5.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock valued at $5,192,000 after acquiring an additional 1,657 shares during the last quarter. Quent Capital LLC lifted its holdings in Procter & Gamble by 2.0% in the 1st quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock valued at $1,733,000 after purchasing an additional 206 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Procter & Gamble by 10.7% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,535 shares of the company’s stock worth $411,000 after purchasing an additional 245 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 1.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 44,016 shares of the company’s stock worth $7,142,000 after buying an additional 424 shares in the last quarter. Finally, Transcendent Capital Group LLC raised its position in shares of Procter & Gamble by 94.8% in the first quarter. Transcendent Capital Group LLC now owns 411 shares of the company’s stock valued at $67,000 after buying an additional 200 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

PG opened at $176.26 on Friday. The stock’s 50-day moving average price is $170.04 and its 200 day moving average price is $168.62. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The firm has a market cap of $415.10 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 3.74 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results 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. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.94 earnings per share 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 given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the business’s 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 transaction, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,693 shares of company stock worth $27,311,345. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $178.00.

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.