Summitry LLC Buys 3,230 Shares of The Procter & Gamble Company (NYSE:PG)

Summitry LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 9.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,343 shares of the company’s stock after acquiring an additional 3,230 shares during the quarter. Summitry LLC’s holdings in Procter & Gamble were worth $6,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PG. Vanguard Group Inc. raised its position in Procter & Gamble by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares during the period. Geode Capital Management LLC raised its holdings 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 during the period. FMR LLC lifted its position in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares in the last quarter. Franklin Resources Inc. grew its holdings in Procter & Gamble by 10.2% during the third 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 during the period. Finally, Fisher Asset Management LLC increased its position in Procter & Gamble by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock worth $3,133,850,000 after buying an additional 312,203 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of several research analyst reports. 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. DA Davidson restated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Barclays boosted their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

Procter & Gamble Stock Performance

PG stock opened at $162.90 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $168.17 and its two-hundred day simple moving average is $169.49. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The firm has a market cap of $381.98 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.76 and a beta of 0.41.

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

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.47%. Procter & Gamble’s payout ratio is currently 64.01%.

Insider Buying and Selling at Procter & Gamble

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

Procter & Gamble Company 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.