Contravisory Investment Management Inc. Grows Stake in The Procter & Gamble Company (NYSE:PG)

Contravisory Investment Management Inc. lifted its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 2,861.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,435 shares of the company’s stock after purchasing an additional 41,002 shares during the period. Procter & Gamble accounts for approximately 2.0% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding. Contravisory Investment Management Inc.’s holdings in Procter & Gamble were worth $6,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PG. RDA Financial Network raised its holdings in Procter & Gamble by 1.2% during the second quarter. RDA Financial Network now owns 5,686 shares of the company’s stock valued at $818,000 after acquiring an additional 69 shares during the period. Armstrong Henry H Associates Inc. grew its position in shares of Procter & Gamble by 0.8% during the second quarter. Armstrong Henry H Associates Inc. now owns 416,384 shares of the company’s stock valued at $59,872,000 after purchasing an additional 3,265 shares in the last quarter. Abner Herrman & Brock LLC grew its position in shares of Procter & Gamble by 12.4% during the second quarter. Abner Herrman & Brock LLC now owns 20,828 shares of the company’s stock valued at $2,995,000 after purchasing an additional 2,293 shares in the last quarter. ERN LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at about $4,673,000. Finally, Waverton Investment Management Ltd grew its position in shares of Procter & Gamble by 37.0% during the second quarter. Waverton Investment Management Ltd now owns 115,129 shares of the company’s stock valued at $16,554,000 after purchasing an additional 31,115 shares in the last quarter. 63.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PG shares. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Wells Fargo & Company dropped their price target on Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Finally, Evercore ISI set a $170.00 price target on Procter & Gamble in a research report on Monday, June 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Stock Up 0.4 %

Shares of NYSE:PG opened at $136.21 on Friday. The Procter & Gamble Company has a 1 year low of $129.50 and a 1 year high of $165.35. The business has a 50 day simple moving average of $142.58 and a two-hundred day simple moving average of $147.19. The firm has a market capitalization of $324.93 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. During the same period in the prior year, the firm posted $1.13 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were paid a dividend of $0.913 per share. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, July 21st. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Insider Buying and Selling

In related news, CEO Ma. Fatima Francisco sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total value of $290,000.00. Following the completion of the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at $728,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ma. Fatima Francisco sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total value of $290,000.00. Following the completion of the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at $728,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $135,442.31. Following the completion of the transaction, the insider now directly owns 6,253 shares of the company’s stock, valued at approximately $933,760.49. The disclosure for this sale can be found here. Insiders sold 289,321 shares of company stock valued at $42,559,426 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

Further Reading

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PGGet Rating).

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

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