Oliver Luxxe Assets LLC Reduces Stake in The Procter & Gamble Company (NYSE:PG)

Oliver Luxxe Assets LLC lessened its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,880 shares of the company’s stock after selling 80 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Procter & Gamble were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the third quarter worth approximately $33,000. Quest Partners LLC purchased a new stake in Procter & Gamble in the second quarter valued at approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Procter & Gamble during the second quarter valued at approximately $44,000. 65.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction 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 completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,439 shares of company stock worth $13,317,460. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Wells Fargo & Company boosted their target price on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Trading Down 2.7 %

Shares of PG opened at $160.61 on Tuesday. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43. The firm has a market capitalization of $378.24 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.70 and a beta of 0.45. The firm’s 50-day moving average price is $170.03 and its 200-day moving average price is $169.80. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 EPS. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.