CI Investments Inc. decreased its position in Procter & Gamble Co. (NYSE:PG) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,703,757 shares of the company’s stock after selling 503,196 shares during the period. Procter & Gamble Co. comprises about 1.6% of CI Investments Inc.’s portfolio, making the stock its 10th largest position. CI Investments Inc. owned about 0.06% of Procter & Gamble Co. worth $144,257,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of PG. Americafirst Capital Management LLC purchased a new stake in Procter & Gamble Co. during the second quarter valued at about $112,000. Lenox Wealth Advisors Inc. increased its stake in Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock valued at $156,000 after buying an additional 10 shares during the period. Cypress Capital Management LLC WY purchased a new stake in Procter & Gamble Co. during the second quarter valued at about $157,000. Catamount Wealth Management increased its stake in Procter & Gamble Co. by 96.0% in the first quarter. Catamount Wealth Management now owns 2,352 shares of the company’s stock valued at $194,000 after buying an additional 1,152 shares during the period. Finally, Wealthsource Partners LLC purchased a new stake in Procter & Gamble Co. during the first quarter valued at about $200,000. 58.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Procter & Gamble Co. (NYSE:PG) traded down 0.29% during midday trading on Monday, hitting $88.17. The company had a trading volume of 1,934,987 shares. The firm’s 50 day moving average is $88.27 and its 200 day moving average is $84.73. The company has a market capitalization of $235.30 billion, a P/E ratio of 23.87 and a beta of 0.54. Procter & Gamble Co. has a 52 week low of $73.50 and a 52 week high of $90.33.
Procter & Gamble Co. (NYSE:PG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The firm earned $16.10 billion during the quarter, compared to analyst estimates of $15.83 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Procter & Gamble Co. will post $0.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 21st will be paid a dividend of $0.6695 per share. This represents a $2.68 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 19th. Procter & Gamble Co.’s dividend payout ratio (DPR) is currently 72.63%.
A number of analysts have recently weighed in on PG shares. Jefferies Group reiterated a “buy” rating and set a $95.00 target price on shares of Procter & Gamble Co. in a research report on Thursday, June 23rd. Argus upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $88.54 to $103.00 in a research report on Wednesday, October 12th. Stifel Nicolaus set a $93.00 target price on Procter & Gamble Co. and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Procter & Gamble Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $92.00 target price (up from $85.00) on shares of Procter & Gamble Co. in a research report on Sunday, July 24th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Procter & Gamble Co. has a consensus rating of “Buy” and an average target price of $90.21.
In other news, CFO Jon R. Moeller sold 272,591 shares of Procter & Gamble Co. stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $85.94, for a total value of $23,426,470.54. Following the transaction, the chief financial officer now owns 164,269 shares in the company, valued at $14,117,277.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charles E. Pierce sold 55,127 shares of Procter & Gamble Co. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $86.07, for a total value of $4,744,780.89. Following the completion of the transaction, the insider now owns 60,632 shares in the company, valued at approximately $5,218,596.24. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Procter & Gamble Co. Company Profile
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
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