Cohen Klingenstein LLC Purchases 22,000 Shares of Procter & Gamble Co (NYSE:PG)

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Cohen Klingenstein LLC grew its position in shares of Procter & Gamble Co (NYSE:PG) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,060 shares of the company’s stock after buying an additional 22,000 shares during the quarter. Procter & Gamble accounts for approximately 1.4% of Cohen Klingenstein LLC’s holdings, making the stock its 15th largest position. Cohen Klingenstein LLC’s holdings in Procter & Gamble were worth $22,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. raised its holdings in Procter & Gamble by 3.2% during the second quarter. D Orazio & Associates Inc. now owns 3,152 shares of the company’s stock valued at $346,000 after acquiring an additional 98 shares during the period. NEXT Financial Group Inc raised its holdings in Procter & Gamble by 104.5% during the second quarter. NEXT Financial Group Inc now owns 23,556 shares of the company’s stock valued at $2,583,000 after acquiring an additional 12,038 shares during the period. Homrich & Berg raised its holdings in Procter & Gamble by 1.1% during the second quarter. Homrich & Berg now owns 116,403 shares of the company’s stock valued at $12,764,000 after acquiring an additional 1,291 shares during the period. Bellecapital International Ltd. raised its holdings in Procter & Gamble by 19.0% during the second quarter. Bellecapital International Ltd. now owns 6,415 shares of the company’s stock valued at $703,000 after acquiring an additional 1,025 shares during the period. Finally, First National Bank of South Miami raised its holdings in Procter & Gamble by 5.1% during the second quarter. First National Bank of South Miami now owns 6,967 shares of the company’s stock valued at $823,000 after acquiring an additional 340 shares during the period. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on PG shares. Credit Suisse Group raised their price target on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus set a $117.00 price target on Procter & Gamble and gave the company a “hold” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued a “neutral” rating and set a $89.00 price target on shares of Procter & Gamble in a report on Tuesday, July 30th. Wells Fargo & Co reissued a “buy” rating and set a $135.00 price target (up from $125.00) on shares of Procter & Gamble in a report on Tuesday, July 30th. Finally, TheStreet cut Procter & Gamble from an “a-” rating to a “c+” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $109.44.

In related news, CEO Steven D. Bishop sold 32,945 shares of Procter & Gamble stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $117.00, for a total value of $3,854,565.00. Following the completion of the transaction, the chief executive officer now owns 78,052 shares in the company, valued at $9,132,084. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marylynn Fergusonmchugh sold 2,680 shares of Procter & Gamble stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $119.93, for a total value of $321,412.40. Following the completion of the transaction, the chief executive officer now owns 84,901 shares of the company’s stock, valued at approximately $10,182,176.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,354 shares of company stock valued at $53,518,874. 1.75% of the stock is currently owned by company insiders.

Shares of Procter & Gamble stock opened at $117.47 on Friday. The firm has a market cap of $291.88 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 3.39 and a beta of 0.42. The business has a 50-day moving average price of $121.81 and a 200-day moving average price of $113.22. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.44. Procter & Gamble Co has a twelve month low of $84.86 and a twelve month high of $125.36.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.04. The company had revenue of $17.09 billion during the quarter, compared to analyst estimates of $16.86 billion. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. On average, equities analysts expect that Procter & Gamble Co will post 4.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.7459 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $2.98 annualized dividend and a yield of 2.54%. Procter & Gamble’s dividend payout ratio is currently 65.93%.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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

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