Townsquare Capital LLC Lowers Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Townsquare Capital LLC lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,826 shares of the company's stock after selling 13,157 shares during the quarter. Townsquare Capital LLC's holdings in Procter & Gamble were worth $20,581,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Carlson Capital Management acquired a new position in Procter & Gamble during the third quarter worth approximately $215,000. Shum Financial Group Inc. acquired a new stake in shares of Procter & Gamble during the 3rd quarter worth $1,227,000. Lazard Freres Gestion S.A.S. raised its position in shares of Procter & Gamble by 3.4% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 265,564 shares of the company's stock worth $45,995,000 after buying an additional 8,856 shares during the period. Principal Street Partners LLC boosted its holdings in Procter & Gamble by 79.1% in the third quarter. Principal Street Partners LLC now owns 7,040 shares of the company's stock valued at $1,164,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Sanders Capital LLC grew its position in Procter & Gamble by 1.2% during the third quarter. Sanders Capital LLC now owns 7,249,547 shares of the company's stock valued at $1,255,622,000 after acquiring an additional 88,649 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Stock Up 1.1 %

NYSE:PG opened at $179.31 on Wednesday. The stock has a 50-day simple moving average of $170.11 and a 200 day simple moving average of $168.83. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $179.46. The company has a market capitalization of $422.28 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 3.82 and a beta of 0.42. 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 issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the previous year, the business earned $1.83 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 6.96 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.25%. 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

PG has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an "overweight" rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued a "sector perform" rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price target for the company. StockNews.com lowered Procter & Gamble from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Procter & Gamble has an average rating of "Moderate Buy" and a consensus price target of $180.45.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Susan Street Whaley sold 634 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company's stock, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,233 shares of company stock valued at $6,024,234 in the last quarter. Insiders own 0.18% of the company's stock.

Procter & Gamble Company 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.

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