Cypress Capital Group Decreases Position in Procter & Gamble Company (The) (NYSE:PG)

Cypress Capital Group decreased its stake in Procter & Gamble Company (The) (NYSE:PG) by 16.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 21,455 shares of the company’s stock after selling 4,075 shares during the quarter. Cypress Capital Group’s holdings in Procter & Gamble were worth $3,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $31,000. 10Elms LLP purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $34,000. Sunbeam Capital Management LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $34,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $153.55 on Monday. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43. The firm has a market capitalization of $359.67 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. The business has a 50 day simple moving average of $158.26 and a 200 day simple moving average of $163.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. During the same period in the prior year, the company posted $1.40 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.98%.

Analyst Ratings Changes

A number of brokerages recently commented on PG. Raymond James Financial reduced their price target on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target for the company. in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $170.00 price target (down previously from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Erste Group Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Redburn Partners set a $161.00 price objective on Procter & Gamble in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $175.88.

Procter & Gamble Company Profile

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