Pioneer Investment Management Inc. reduced its stake in Procter & Gamble Company (The) (NYSE:PG) by 47.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,156 shares of the company’s stock after selling 137,085 shares during the quarter. Pioneer Investment Management Inc.’s holdings in Procter & Gamble Company (The) were worth $13,671,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Karp Capital Management Corp bought a new position in shares of Procter & Gamble Company (The) during the 1st quarter valued at about $126,275,000. Hermes Investment Management Ltd. grew its position in Procter & Gamble Company (The) by 2,810.3% during the 1st quarter. Hermes Investment Management Ltd. now owns 738,390 shares of the company’s stock worth $66,344,000 after acquiring an additional 713,018 shares during the last quarter. British Airways Pensions Investment Management Ltd bought a new position in Procter & Gamble Company (The) during the 1st quarter worth approximately $52,682,000. Nuance Investments LLC bought a new position in Procter & Gamble Company (The) during the 1st quarter worth approximately $42,694,000. Finally, Pictet Asset Management Ltd. grew its position in Procter & Gamble Company (The) by 21.0% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,741,832 shares of the company’s stock worth $156,504,000 after acquiring an additional 302,741 shares during the last quarter. 59.33% of the stock is currently owned by institutional investors.
In other news, SVP Valarie L. Sheppard sold 20,175 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $92.65, for a total value of $1,869,213.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suranjan Magesvaran sold 10,512 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $91.00, for a total transaction of $956,592.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,792 shares of company stock valued at $4,216,070. Insiders own 0.35% of the company’s stock.
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Shares of Procter & Gamble Company (PG) opened at 93.27 on Friday. The firm’s 50-day moving average price is $92.20 and its 200-day moving average price is $89.60. The stock has a market capitalization of $237.84 billion, a P/E ratio of 16.68 and a beta of 0.68. Procter & Gamble Company has a 12 month low of $81.18 and a 12 month high of $94.19.
Procter & Gamble Company (The) (NYSE:PG) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.07. The business had revenue of $16.08 billion during the quarter, compared to the consensus estimate of $16.01 billion. Procter & Gamble Company (The) had a net margin of 23.56% and a return on equity of 19.97%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Procter & Gamble Company will post $4.17 EPS for the current year.
Several equities analysts recently issued reports on PG shares. Capital One Financial Corporation lowered Procter & Gamble Company (The) from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $5.00 to $2.00 in a research report on Thursday, June 22nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price objective on shares of Procter & Gamble Company (The) in a research report on Friday, June 30th. Vetr lowered Procter & Gamble Company (The) from a “hold” rating to a “sell” rating and set a $83.75 price objective on the stock. in a research report on Monday, July 3rd. Zacks Investment Research cut Procter & Gamble Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, BidaskClub cut Procter & Gamble Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $89.39.
Procter & Gamble Company (The) Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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