Commerce Bank lowered its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,874 shares of the company's stock after selling 13,249 shares during the period. Procter & Gamble accounts for approximately 1.5% of Commerce Bank's portfolio, making the stock its 9th largest holding. Commerce Bank owned 0.06% of Procter & Gamble worth $247,481,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in shares of Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company's stock valued at $16,300,000 after acquiring an additional 4,035 shares during the period. Radnor Capital Management LLC bought a new stake in Procter & Gamble in the third quarter valued at $5,705,000. Welch Group LLC raised its holdings in Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company's stock worth $56,094,000 after purchasing an additional 2,990 shares in the last quarter. Swiss National Bank lifted its holdings in Procter & Gamble by 0.6% in the third quarter. Swiss National Bank now owns 7,005,790 shares of the company's stock worth $1,213,403,000 after buying an additional 39,000 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company's stock worth $4,420,000 after acquiring an additional 10,777 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.
Procter & Gamble Price Performance
Shares of Procter & Gamble stock traded down $0.35 during trading on Wednesday, reaching $170.41. The company's stock had a trading volume of 3,060,250 shares, compared to its average volume of 6,656,390. The company has a market capitalization of $401.32 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The business has a 50 day moving average price of $170.07 and a 200-day moving average price of $168.49. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.
Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.
Procter & Gamble Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. Procter & Gamble's dividend payout ratio is presently 69.48%.
Insider Activity at Procter & Gamble
In other news, CEO R. Alexandra Keith sold 1,992 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now owns 13,783 shares of the company's stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 11,566 shares of the company's stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,727 shares of company stock worth $46,014,037. 0.18% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an "overweight" rating in a report on Thursday, September 19th. Wolfe Research raised Procter & Gamble to a "strong-buy" rating in a research note on Friday, August 23rd. Hsbc Global Res upgraded Procter & Gamble to a "strong-buy" rating in a research report on Friday, October 4th. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Finally, Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 price target for the company. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $177.00.
Read Our Latest Stock Report on PG
Procter & Gamble Profile
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Free Report)
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.
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