NorthCrest Asset Manangement LLC Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

NorthCrest Asset Manangement LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 149,464 shares of the company’s stock after selling 95 shares during the quarter. Procter & Gamble comprises about 0.8% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 29th largest holding. NorthCrest Asset Manangement LLC’s holdings in Procter & Gamble were worth $25,887,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC increased its stake in Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after purchasing an additional 4,035 shares during the period. Copley Financial Group Inc. acquired a new position in Procter & Gamble in the 3rd quarter valued at about $668,000. Fortem Financial Group LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at approximately $569,000. Synovus Financial Corp lifted its position in Procter & Gamble by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after acquiring an additional 6,077 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Procter & Gamble by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after purchasing an additional 201,695 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,439 shares of company stock worth $13,317,460 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

PG stock traded down $2.91 on Friday, reaching $159.19. The company had a trading volume of 2,531,893 shares, compared to its average volume of 5,868,981. The company’s fifty day moving average is $169.77 and its 200 day moving average is $169.64. The company has a market cap of $374.90 billion, a P/E ratio of 27.45, a PEG ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. During the same period in the prior year, the business earned $1.83 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PG. Morgan Stanley increased their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Finally, Wells Fargo & Company cut their target price on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.