Toronto Dominion Bank Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Toronto Dominion Bank reduced its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 6.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,417,142 shares of the company's stock after selling 92,133 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Procter & Gamble worth $245,449,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PG. Itau Unibanco Holding S.A. acquired a new stake in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in Procter & Gamble during the third quarter valued at $33,000. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth about $36,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Down 0.8 %

Shares of Procter & Gamble stock traded down $1.34 during trading hours on Wednesday, reaching $170.94. 2,538,328 shares of the company were exchanged, compared to its average volume of 6,697,834. The firm has a market cap of $402.57 billion, a PE ratio of 29.88, a PEG ratio of 3.68 and a beta of 0.44. The stock's fifty day moving average is $170.70 and its 200 day moving average is $169.49. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble's dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PG. Barclays downgraded Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price objective for the company. in a research note on Monday, September 30th. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price objective on the stock. DA Davidson upgraded Procter & Gamble from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $160.00 to $209.00 in a report on Monday, November 25th. Finally, Wolfe Research raised shares of Procter & Gamble to a "strong-buy" rating in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.45.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company's stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,080 shares of company stock valued at $14,629,038 in the last ninety days. Insiders own 0.18% of the company's stock.

About Procter & Gamble

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.