Tortoise Investment Management LLC Has $666,000 Stock Position in The Procter & Gamble Company (NYSE:PG)

Tortoise Investment Management LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 11.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,974 shares of the company’s stock after selling 489 shares during the period. Tortoise Investment Management LLC’s holdings in Procter & Gamble were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PG. Geode Capital Management LLC grew its holdings in Procter & Gamble by 7.0% during the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. FMR LLC grew its holdings in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after purchasing an additional 689,282 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Procter & Gamble by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock worth $3,133,850,000 after acquiring an additional 312,203 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Procter & Gamble by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,881,907 shares of the company’s stock worth $2,830,252,000 after acquiring an additional 459,437 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last 90 days. 0.18% of the stock is owned by company insiders.

Procter & Gamble Trading Up 0.8 %

Shares of PG stock opened at $176.06 on Monday. The company has a 50 day moving average of $166.85 and a 200-day moving average of $169.77. The firm has a market cap of $412.84 billion, a P/E ratio of 28.04, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is presently 64.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on PG. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Stifel Nicolaus upped their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. DA Davidson reissued a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Finally, Barclays upped their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.11.

About Procter & Gamble

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.