Commerzbank Aktiengesellschaft FI boosted its stake in shares of Procter & Gamble Co. (NYSE:PG) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 486,719 shares of the company’s stock after buying an additional 21,271 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Procter & Gamble Co. were worth $41,210,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Procter & Gamble Co. during the fourth quarter valued at $1,852,688,000. Bank of Montreal Can purchased a new stake in Procter & Gamble Co. during the second quarter valued at $201,298,000. Wellington Management Group LLP increased its stake in Procter & Gamble Co. by 17.5% in the first quarter. Wellington Management Group LLP now owns 12,451,833 shares of the company’s stock valued at $1,024,911,000 after buying an additional 1,852,661 shares during the last quarter. Acadian Asset Management LLC increased its stake in Procter & Gamble Co. by 54.1% in the first quarter. Acadian Asset Management LLC now owns 4,150,803 shares of the company’s stock valued at $341,654,000 after buying an additional 1,458,088 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Procter & Gamble Co. during the first quarter valued at $119,711,000. Hedge funds and other institutional investors own 58.75% of the company’s stock.
Shares of Procter & Gamble Co. (NYSE:PG) traded up 0.36% on Monday, hitting $88.37. The stock had a trading volume of 19,173,907 shares. The company has a market cap of $235.84 billion, a price-to-earnings ratio of 23.92 and a beta of 0.51. The firm’s 50-day moving average is $87.21 and its 200-day moving average is $83.94. Procter & Gamble Co. has a one year low of $69.74 and a one year high of $88.95.
Procter & Gamble Co. (NYSE:PG) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ 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 company earned $16.10 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts expect that Procter & Gamble Co. will post $0.02 EPS for the current fiscal year.
Several analysts recently weighed in on PG shares. Jefferies Group restated a “buy” rating and issued a $95.00 price objective on shares of Procter & Gamble Co. in a report on Thursday, June 23rd. Stifel Nicolaus set a $93.00 price objective on Procter & Gamble Co. and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Procter & Gamble Co. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Deutsche Bank AG restated a “buy” rating and issued a $92.00 price objective (up from $85.00) on shares of Procter & Gamble Co. in a report on Sunday, July 24th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $88.00 target price (up previously from $81.00) on shares of Procter & Gamble Co. in a research note on Friday, July 15th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Procter & Gamble Co. currently has a consensus rating of “Buy” and an average price target of $89.58.
In other news, insider Ciserani Giovanni sold 20,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $88.00, for a total value of $1,760,000.00. Following the completion of the transaction, the insider now directly owns 65,053 shares of the company’s stock, valued at $5,724,664. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jon R. Moeller sold 272,591 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 164,269 shares of the company’s stock, valued at $14,117,277.86. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
About Procter & Gamble Co.
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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