Sendero Wealth Management LLC Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Sendero Wealth Management LLC decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 7.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,385 shares of the company’s stock after selling 1,318 shares during the period. Sendero Wealth Management LLC’s holdings in Procter & Gamble were worth $2,665,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wulff Hansen & CO. increased its position in Procter & Gamble by 16,292.0% during the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after purchasing an additional 3,653,477 shares in the last quarter. TD Asset Management Inc increased its position in shares of Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after acquiring an additional 1,907,716 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after acquiring an additional 1,466,115 shares during the period. Swedbank AB acquired a new position in shares of Procter & Gamble in the first quarter worth about $233,788,000. Finally, Ilex Capital Partners UK LLP purchased a new position in Procter & Gamble in the first quarter valued at about $228,212,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PG. Citigroup raised their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Stifel Nicolaus increased their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.05.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the sale, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Susan Street Whaley sold 450 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was 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 in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,194 shares of company stock worth $65,140,718 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock traded down $0.70 during trading on Thursday, reaching $168.57. The company’s stock had a trading volume of 1,792,494 shares, compared to its average volume of 6,658,988. The business’s fifty day moving average price is $171.39 and its 200-day moving average price is $166.65. The Procter & Gamble Company has a one year low of $141.66 and a one year high of $177.94. The firm has a market cap of $397.85 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.73 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG) last issued 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 during the quarter, compared to analyst estimates of $20.69 billion. During the same period in the previous year, the company earned $1.37 earnings per share. The company’s quarterly 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 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is 65.69%.

Procter & Gamble 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.