Weik Capital Management Lowers Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Weik Capital Management reduced its stake in The Procter & Gamble Company (NYSE:PG) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,515 shares of the company’s stock after selling 110 shares during the period. Weik Capital Management’s holdings in Procter & Gamble were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Procter & Gamble by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock valued at $38,524,976,000 after buying an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC raised 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 in the last quarter. Norges Bank purchased a new position in Procter & Gamble in the fourth quarter worth $5,244,463,000. Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 10.2% during the 3rd 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 in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Procter & Gamble by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock valued at $3,133,850,000 after buying an additional 312,203 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Piper Sandler reduced their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, Stifel Nicolaus raised their price objective on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.82.

Procter & Gamble Trading Up 1.4 %

Shares of PG stock opened at $168.85 on Friday. The company’s fifty day simple moving average is $168.47 and its two-hundred day simple moving average is $169.46. The stock has a market capitalization of $395.92 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.01%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 in the last 90 days. Insiders own 0.18% of the company’s stock.

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.