Lake Street Private Wealth LLC Sells 701 Shares of The Procter & Gamble Company (NYSE:PG)

Lake Street Private Wealth LLC decreased its position in The Procter & Gamble Company (NYSE:PG) by 19.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,997 shares of the company’s stock after selling 701 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Procter & Gamble were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the second quarter worth about $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble in the 3rd quarter worth approximately $33,000. Costello Asset Management INC boosted its stake in Procter & Gamble by 2,142.9% during the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after buying an additional 300 shares during the period. William B. Walkup & Associates Inc. bought a new position in Procter & Gamble during the 2nd quarter valued at about $58,000. Finally, Mendota Financial Group LLC grew its stake in shares of Procter & Gamble by 58.0% during the fourth quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock valued at $63,000 after buying an additional 138 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Friday, December 27th. Barclays decreased their target price on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.65.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is owned by company insiders.

Procter & Gamble Price Performance

Shares of PG stock opened at $161.35 on Friday. The firm has a market capitalization of $379.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock’s 50-day simple moving average is $169.19 and its 200-day simple moving average is $169.38. The Procter & Gamble Company has a fifty-two week low of $146.28 and a fifty-two week high of $180.43.

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, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the prior year, the business posted $1.83 EPS. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

About Procter & Gamble

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.