Hancock Whitney Corp Lowers Stock Position in The Procter & Gamble Company (NYSE:PG)

Hancock Whitney Corp trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 109,126 shares of the company’s stock after selling 963 shares during the period. Hancock Whitney Corp’s holdings in Procter & Gamble were worth $17,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth about $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. grew its holdings in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in Procter & Gamble in the 2nd quarter valued at approximately $34,000. Finally, Vima LLC acquired a new position in Procter & Gamble during the fourth quarter worth $35,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 1.6 %

PG opened at $174.22 on Friday. The stock has a market capitalization of $411.18 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 3.84 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The business has a 50-day moving average of $170.21 and a two-hundred day moving average of $165.69.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion for 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%. Procter & Gamble’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share. On average, research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insiders Place Their Bets

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Andre Schulten sold 13,041 shares of the 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 approximately $6,325,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock worth $63,829,141 over the last three months. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. TD Cowen began coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.16.

Procter & Gamble 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.