Norden Group LLC Sells 532 Procter & Gamble (NYSE:PG) Shares

Norden Group LLC lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,964 shares of the company’s stock after selling 532 shares during the period. Norden Group LLC’s holdings in Procter & Gamble were worth $2,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its holdings in shares of Procter & Gamble by 28.4% in the second quarter. SRS Capital Advisors Inc. now owns 4,431 shares of the company’s stock valued at $731,000 after buying an additional 981 shares during the last quarter. Oxbow Advisors LLC boosted its position in Procter & Gamble by 1.6% in the second quarter. Oxbow Advisors LLC now owns 9,614 shares of the company’s stock valued at $1,586,000 after purchasing an additional 150 shares during the last quarter. Motiv8 Investments LLC grew its position in shares of Procter & Gamble by 6.8% in the second quarter. Motiv8 Investments LLC now owns 5,045 shares of the company’s stock worth $832,000 after purchasing an additional 321 shares during the last quarter. Chicago Capital LLC increased its stake in shares of Procter & Gamble by 2.7% in the second quarter. Chicago Capital LLC now owns 36,181 shares of the company’s stock valued at $5,967,000 after acquiring an additional 955 shares during the period. Finally, Greystone Financial Group LLC boosted its holdings in Procter & Gamble by 9.2% in the second quarter. Greystone Financial Group LLC now owns 46,703 shares of the company’s stock valued at $7,702,000 after acquiring an additional 3,921 shares during the last quarter. 65.77% of the shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

Several research analysts have recently issued reports on the stock. Barclays cut their price target on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup boosted their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.79, according to MarketBeat.

Check out our latest analysis of Procter & Gamble

Procter & Gamble trading rose 0.1%

NYSE:PG opened at $175.59 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.73, and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $177.04. The company has a market cap of $414.42 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a 50 day moving average price of $168.26 and a two hundred day moving average price of $164.69.

Procter & Gamble (NYSE:PG – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same period in the previous year, the business earned $1.37 EPS. The company’s revenue was down 0.1% compared to the same quarter last year. As a group, analysts expect The Procter & Gamble Company to post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $1.0065 dividend. The ex-dividend date was Friday, July 19. This represents a dividend of $4.03 on an annualized basis and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is 65.69%.

Insiders place their bets

In related news, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock worth $63,829,141 over the last 90 days. 0.17% of shares are currently owned by insiders.

About Procter & Gamble

(Free report)

The Procter & Gamble Company supplies packaged consumer goods worldwide. It operates through five segments: Beauty; Care; Health; Fabrics and Home Care; and Baby, Women and 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 cleaning and skin care products under the Olay, Old Spice, Safeguard, Secret and SK-II brands.

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