Mechanics Financial Corp Trims Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Mechanics Financial Corp cut its holdings in The Procter & Gamble Company (NYSE:PG) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,946 shares of the company’s stock after selling 135 shares during the period. Procter & Gamble accounts for 1.3% of Mechanics Financial Corp’s investment portfolio, making the stock its 15th biggest position. Mechanics Financial Corp’s holdings in Procter & Gamble were worth $2,841,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Procter & Gamble during the 4th quarter valued at about $5,244,463,000. Raymond James Financial Inc. purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Geode Capital Management LLC lifted its stake in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after purchasing an additional 2,973,757 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity

In other news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PG. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a report on Thursday. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Stifel Nicolaus raised their price objective on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $181.82.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $167.94 on Friday. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The firm has a market cap of $393.80 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $168.60 and a 200-day moving average of $169.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. Procter & Gamble’s dividend payout ratio is 64.01%.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.