Cannon Financial Strategists Inc. Purchases New Holdings in The Procter & Gamble Company (NYSE:PG)

Cannon Financial Strategists Inc. acquired a new position in shares of The Procter & Gamble Company (NYSE:PG) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 7,113 shares of the company’s stock, valued at approximately $1,173,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HighPoint Advisor Group LLC acquired a new position in Procter & Gamble in the 4th quarter valued at $17,696,000. Bayesian Capital Management LP lifted its position in Procter & Gamble by 43.0% in the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after purchasing an additional 15,900 shares during the period. Steele Capital Management Inc. acquired a new position in Procter & Gamble during the 1st quarter worth approximately $204,000. Mosley Wealth Management purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $537,000. Finally, United Advisor Group LLC purchased a new position in Procter & Gamble in the fourth quarter worth $3,463,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PG. 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 report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup increased their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Evercore ISI lifted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a report on Monday. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $175.89.

Procter & Gamble Stock Performance

PG stock opened at $173.07 on Wednesday. The firm has a market cap of $408.47 billion, a P/E ratio of 28.28, a P/E/G ratio of 3.76 and a beta of 0.41. The stock’s 50 day simple moving average is $171.01 and its 200 day simple moving average is $166.36. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. 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 issued its 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. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid 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 yield of 2.33%. Procter & Gamble’s payout ratio is currently 65.69%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble 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 sale, 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 Securities & Exchange Commission, which is available through this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction on 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 owns 13,721 shares in the company, valued at approximately $2,332,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, 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. In the last ninety days, insiders have sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is currently owned by company insiders.

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.