Everence Capital Management Inc. Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Everence Capital Management Inc. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 17.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,946 shares of the company’s stock after selling 11,090 shares during the quarter. Procter & Gamble makes up approximately 0.6% of Everence Capital Management Inc.’s holdings, making the stock its 24th biggest position. Everence Capital Management Inc.’s holdings in Procter & Gamble were worth $8,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PG. North Star Asset Management Inc. raised its position in shares of Procter & Gamble by 1.4% during the 4th quarter. North Star Asset Management Inc. now owns 18,819 shares of the company’s stock valued at $3,078,000 after purchasing an additional 258 shares during the period. Eagle Rock Investment Company LLC purchased a new stake in Procter & Gamble in the 4th quarter worth $394,000. Liberty One Investment Management LLC raised its holdings in Procter & Gamble by 2.9% during the fourth quarter. Liberty One Investment Management LLC now owns 132,985 shares of the company’s stock valued at $21,754,000 after acquiring an additional 3,754 shares during the period. Adviser Investments LLC lifted its position in shares of Procter & Gamble by 3.1% in the fourth quarter. Adviser Investments LLC now owns 60,154 shares of the company’s stock valued at $9,840,000 after acquiring an additional 1,793 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of Procter & Gamble by 8.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 83,081 shares of the company’s stock worth $13,590,000 after acquiring an additional 6,550 shares during the period. 63.64% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Matthew W. Janzaruk sold 334 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total value of $54,251.62. Following the transaction, the chief accounting officer now directly owns 1,220 shares in the company, valued at $198,164.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David S. Taylor sold 60,000 shares of Procter & Gamble stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $164.52, for a total transaction of $9,871,200.00. Following the sale, the chairman now owns 253,933 shares of the company’s stock, valued at approximately $41,777,057.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,415 shares of company stock worth $17,777,055. Company insiders own 0.51% of the company’s stock.

Several research analysts have weighed in on the company. Evercore ISI set a $170.00 price target on Procter & Gamble in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Procter & Gamble from $171.00 to $157.00 in a research note on Tuesday. Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $179.00 to $185.00 in a report on Thursday, April 21st. StockNews.com raised Procter & Gamble from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. Finally, The Goldman Sachs Group cut their price target on Procter & Gamble from $179.00 to $173.00 in a report on Tuesday, March 29th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.80.

Shares of PG opened at $136.37 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $150.09 and a 200 day moving average of $154.56. The company has a market cap of $327.19 billion, a PE ratio of 23.80, a P/E/G ratio of 3.74 and a beta of 0.40. The Procter & Gamble Company has a 52-week low of $129.50 and a 52-week high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last released its earnings results on Wednesday, April 20th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $18.69 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. As a group, research analysts anticipate that The Procter & Gamble Company will post 5.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 22nd were paid a dividend of $0.9133 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. The ex-dividend date was Thursday, April 21st. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.68%. Procter & Gamble’s dividend payout ratio is currently 63.70%.

Procter & Gamble Profile (Get Rating)

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

See Also

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

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