Main Street Research LLC Has $67.67 Million Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Main Street Research LLC grew its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 397,082 shares of the company’s stock after purchasing an additional 11,269 shares during the period. Procter & Gamble comprises about 4.4% of Main Street Research LLC’s investment portfolio, making the stock its 3rd largest holding. Main Street Research LLC’s holdings in Procter & Gamble were worth $67,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble during the fourth quarter valued at $31,000. Hoey Investments Inc. grew its holdings in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble during the fourth quarter valued at $34,000. Finally, 10Elms LLP bought a new position in Procter & Gamble during the fourth quarter valued at $34,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Price Performance

PG traded down $0.42 during trading on Wednesday, reaching $157.47. The stock had a trading volume of 3,452,301 shares, compared to its average volume of 7,507,162. The stock has a market cap of $369.20 billion, a PE ratio of 25.01, a PEG ratio of 4.57 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The business has a 50-day moving average of $161.98 and a 200-day moving average of $165.15.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, equities research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.68%. Procter & Gamble’s payout ratio is 67.14%.

Insider Activity at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer owned 51,965 shares of the company’s stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PG has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Raymond James Financial dropped their target price on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Barclays restated an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Finally, Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a research report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.45.

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.