Wallace Capital Management Inc. Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Wallace Capital Management Inc. boosted its holdings in The Procter & Gamble Company (NYSE:PG) by 2.7% in the second quarter, Holdings Channel reports. The institutional investor owned 25,391 shares of the company’s stock after acquiring an additional 678 shares during the quarter. Procter & Gamble accounts for approximately 0.5% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Wallace Capital Management Inc.’s holdings in Procter & Gamble were worth $4,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighPoint Advisor Group LLC bought a new stake in shares of Procter & Gamble during the 4th quarter valued at $17,696,000. Bayesian Capital Management LP increased its position in shares of Procter & Gamble by 43.0% during the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after buying an additional 15,900 shares during the period. Steele Capital Management Inc. purchased a new stake in shares of Procter & Gamble in the first quarter worth about $204,000. Gilbert & Cook Inc. boosted its position in shares of Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock valued at $2,523,000 after acquiring an additional 1,237 shares during the period. Finally, Mosley Wealth Management purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $537,000. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, CEO Jon R. Moeller sold 72,174 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now directly owns 263,158 shares in the company, valued at approximately $45,002,649.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,553 shares of company stock valued at $63,829,141. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. TD Cowen started coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. JPMorgan Chase & Co. raised their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Finally, Barclays lowered their target price on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.89.

Procter & Gamble Stock Up 0.2 %

Shares of Procter & Gamble stock opened at $173.55 on Monday. The company’s 50 day moving average price is $170.79 and its 200-day moving average price is $166.20. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $177.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The stock has a market capitalization of $409.60 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. Equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. Procter & Gamble’s dividend payout ratio is currently 65.85%.

About Procter & Gamble

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.