The Procter & Gamble Company (NYSE:PG) Shares Sold by Corundum Group Inc.

Corundum Group Inc. lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,335 shares of the company’s stock after selling 128 shares during the period. Corundum Group Inc.’s holdings in Procter & Gamble were worth $1,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PG. Sawgrass Asset Management LLC lifted its position in Procter & Gamble by 2.6% in the third quarter. Sawgrass Asset Management LLC now owns 9,063 shares of the company’s stock valued at $1,322,000 after acquiring an additional 227 shares during the last quarter. Private Advisory Group LLC lifted its position in Procter & Gamble by 3.7% in the third quarter. Private Advisory Group LLC now owns 15,585 shares of the company’s stock valued at $2,273,000 after acquiring an additional 554 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Procter & Gamble by 9.3% in the third quarter. Tower Research Capital LLC TRC now owns 124,582 shares of the company’s stock valued at $18,172,000 after acquiring an additional 10,651 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Procter & Gamble by 20.9% in the third quarter. Bank of Nova Scotia now owns 403,979 shares of the company’s stock valued at $58,922,000 after buying an additional 69,964 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Procter & Gamble in the third quarter valued at about $11,730,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

Shares of PG opened at $166.62 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $165.28 and its two-hundred day moving average is $158.54. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $169.41. The firm has a market capitalization of $393.25 billion, a P/E ratio of 27.23, a PEG ratio of 3.40 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 earnings per share. On average, research analysts predict that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PG. The Goldman Sachs Group began coverage on shares of Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 target price for the company. Barclays upped their target price on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, Jefferies Financial Group boosted their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $170.72.

Insider Activity

In other news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders have sold 154,544 shares of company stock worth $25,413,051 over the last ninety days. 0.17% of the stock is currently owned by insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.