DAVENPORT & Co LLC Raises Holdings in The Procter & Gamble Company (NYSE:PG)

DAVENPORT & Co LLC grew its position in shares of The Procter & Gamble Company (NYSE:PGFree Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,382 shares of the company’s stock after buying an additional 3,573 shares during the period. DAVENPORT & Co LLC’s holdings in Procter & Gamble were worth $21,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wyrmwood Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at $29,000. Mendota Financial Group LLC grew its position in shares of Procter & Gamble by 636.6% during the 4th quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after purchasing an additional 261 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the 2nd quarter valued at $50,000. CGC Financial Services LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter valued at $55,000. Finally, VitalStone Financial LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $156.16 on Thursday. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $163.14. The company has a market cap of $367.45 billion, a P/E ratio of 26.16, a PEG ratio of 3.28 and a beta of 0.44. The firm has a 50-day moving average of $159.46 and a 200 day moving average of $152.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44.

Procter & Gamble (NYSE:PGGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.14. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. Procter & Gamble’s revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.45 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, January 19th were paid a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s dividend payout ratio is 62.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 24th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Barclays upped their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Raymond James upped their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $168.35.

Check Out Our Latest Stock Report on Procter & Gamble

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 74,443 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.30, for a total transaction of $11,412,111.90. Following the completion of the transaction, the chief executive officer now owns 973 shares of the company’s stock, valued at $149,160.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the sale, the insider now owns 163,428 shares in the company, valued at $25,097,637.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ma. Fatima Francisco sold 74,443 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.30, for a total transaction of $11,412,111.90. Following the completion of the sale, the chief executive officer now owns 973 shares in the company, valued at approximately $149,160.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,063 shares of company stock valued at $43,187,745. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

Further Reading

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

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