B&L Asset Management LLC Buys New Holdings in The Procter & Gamble Company (NYSE:PG)

B&L Asset Management LLC purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,821 shares of the company’s stock, valued at approximately $4,299,000. Procter & Gamble makes up approximately 2.7% of B&L Asset Management LLC’s holdings, making the stock its 11th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of PG. Acorn Creek Capital LLC lifted its position in Procter & Gamble by 2.8% during the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after purchasing an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Procter & Gamble by 1.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock worth $963,000 after acquiring an additional 59 shares during the last quarter. Hudson Value Partners LLC boosted its stake in shares of Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after purchasing an additional 60 shares in the last quarter. Traveka Wealth LLC grew its holdings in shares of Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock valued at $616,000 after purchasing an additional 60 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its position in Procter & Gamble by 2.8% during the 2nd quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Down 0.1 %

Shares of NYSE PG opened at $179.26 on Friday. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm has a market cap of $422.16 billion, a PE ratio of 30.91, a P/E/G ratio of 3.86 and a beta of 0.42. The company’s fifty day simple moving average is $170.48 and its 200 day simple moving average is $169.09.

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

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.25%. Procter & Gamble’s payout ratio is 69.48%.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,233 shares of company stock valued at $6,024,234. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PG. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their price target on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Evercore ISI upped their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $180.45.

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.