Estabrook Capital Management Has $4.70 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Estabrook Capital Management reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,506 shares of the company’s stock after selling 999 shares during the period. Estabrook Capital Management’s holdings in Procter & Gamble were worth $4,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth about $29,000. Transcendent Capital Group LLC bought a new position in Procter & Gamble during the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the last quarter. Finally, POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth approximately $34,000. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TD Cowen assumed coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $176.16.

Insider Activity at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,553 shares of company stock valued at $63,829,141. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Price Performance

PG opened at $174.22 on Friday. The company has a fifty day simple moving average of $170.21 and a 200 day simple moving average of $165.74. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $411.18 billion, a P/E ratio of 28.47, a P/E/G 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.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same quarter last year, the firm posted $1.37 earnings per share. Procter & Gamble’s revenue was down .1% compared to the same quarter last year. On average, research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

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

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.