Home Federal Bank of Tennessee Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Home Federal Bank of Tennessee lowered its holdings in The Procter & Gamble Company (NYSE:PGGet Rating) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,682 shares of the company’s stock after selling 412 shares during the period. Procter & Gamble comprises about 1.2% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 9th biggest holding. Home Federal Bank of Tennessee’s holdings in Procter & Gamble were worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Joseph Group Capital Management bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $1,527,000. Western Pacific Wealth Management LP bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $40,000. Delos Wealth Advisors LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $50,000. Level Financial Advisors Inc. bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $51,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $53,000. 63.64% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on PG shares. Evercore ISI set a $170.00 price target on Procter & Gamble in a report on Monday. JPMorgan Chase & Co. cut Procter & Gamble from an “overweight” rating to a “neutral” rating and cut their price target for the company from $181.00 to $165.00 in a report on Wednesday, March 30th. Credit Suisse Group raised their price objective on shares of Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Barclays lowered their price objective on shares of Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Finally, Raymond James raised their price objective on shares of Procter & Gamble from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, April 21st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.80.

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 334 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total transaction of $54,251.62. Following the transaction, the chief accounting officer now directly owns 1,220 shares in the company, valued at approximately $198,164.60. The transaction was disclosed in a filing 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 on 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 directly 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 have sold 108,415 shares of company stock worth $17,777,055. Corporate insiders own 0.51% of the company’s stock.

Procter & Gamble stock opened at $138.50 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.47 and a current ratio of 0.68. The firm has a market cap of $332.30 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 3.74 and a beta of 0.40. The Procter & Gamble Company has a 1 year low of $129.50 and a 1 year high of $165.35. The firm’s 50 day moving average price is $149.68 and its two-hundred day moving average price is $154.44.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly 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 for 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 firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. As a group, equities analysts predict that The Procter & Gamble Company will post 5.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Friday, April 22nd were given a dividend of $0.9133 per share. This represents a $3.65 annualized dividend and a yield of 2.64%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. The ex-dividend date was Thursday, April 21st. Procter & Gamble’s payout ratio is presently 63.70%.

About Procter & Gamble (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.

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

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