Cim Investment Management Inc. Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

Cim Investment Management Inc. trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,725 shares of the company’s stock after selling 265 shares during the quarter. Cim Investment Management Inc.’s holdings in The Procter & Gamble were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cable Hill Partners LLC boosted its stake in The Procter & Gamble by 16.2% during the 2nd quarter. Cable Hill Partners LLC now owns 4,271 shares of the company’s stock valued at $576,000 after acquiring an additional 595 shares during the last quarter. Laurion Capital Management LP bought a new position in The Procter & Gamble during the 2nd quarter valued at $922,000. Intellectus Partners LLC bought a new position in The Procter & Gamble during the 2nd quarter valued at $575,000. Cherry Creek Investment Advisors Inc. bought a new position in The Procter & Gamble during the 2nd quarter valued at $558,000. Finally, Natixis boosted its stake in The Procter & Gamble by 42.9% during the 2nd quarter. Natixis now owns 1,103,069 shares of the company’s stock valued at $147,907,000 after acquiring an additional 331,004 shares during the last quarter. Hedge funds and other institutional investors own 62.51% of the company’s stock.

Shares of NYSE:PG traded up $1.72 during trading on Thursday, reaching $144.16. The stock had a trading volume of 162,216 shares, compared to its average volume of 7,829,210. The Procter & Gamble Company has a 52 week low of $121.54 and a 52 week high of $147.23. The firm has a market capitalization of $350.07 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 3.47 and a beta of 0.43. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $142.97 and a two-hundred day simple moving average of $138.62.

The Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $18.95 billion for the quarter, compared to the consensus estimate of $18.38 billion. The Procter & Gamble had a net margin of 18.80% and a return on equity of 31.49%. The Procter & Gamble’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current year.

In other The Procter & Gamble news, CFO Andre Schulten sold 1,010 shares of The Procter & Gamble stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $144.37, for a total transaction of $145,813.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael G. Homan sold 667 shares of The Procter & Gamble stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $144.37, for a total value of $96,294.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 748,024 shares of company stock worth $106,760,698. 0.51% of the stock is currently owned by corporate insiders.

A number of analysts have weighed in on PG shares. Citigroup increased their target price on shares of The Procter & Gamble from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. UBS Group assumed coverage on shares of The Procter & Gamble in a research report on Wednesday, June 23rd. They issued a “neutral” rating and a $138.00 target price for the company. Truist raised their price objective on shares of The Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Monday, August 2nd. Morgan Stanley raised their price objective on shares of The Procter & Gamble from $160.00 to $161.00 and gave the company an “overweight” rating in a research report on Tuesday, September 7th. Finally, Zacks Investment Research upgraded shares of The Procter & Gamble from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a report on Tuesday, October 5th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $151.00.

About The Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Institutional Ownership by Quarter for The Procter & Gamble (NYSE:PG)

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