CNB Bank Reduces Position in The Procter & Gamble Company (NYSE:PG)

CNB Bank cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,541 shares of the company’s stock after selling 242 shares during the quarter. Procter & Gamble makes up approximately 1.4% of CNB Bank’s portfolio, making the stock its 15th largest holding. CNB Bank’s holdings in Procter & Gamble were worth $2,941,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. FMR LLC raised its stake in Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares in the last quarter. Legal & General Group Plc lifted its position in Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares during the last quarter. Franklin Resources Inc. lifted its position in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares in the company, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. UBS Group dropped their target price on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday. DA Davidson reiterated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Friday, December 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Procter & Gamble from $167.00 to $161.00 and set a “hold” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.65.

Procter & Gamble Stock Up 0.5 %

Shares of NYSE PG opened at $161.35 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $169.19 and its 200 day moving average is $169.38. The company has a market cap of $379.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week 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 analysts’ consensus estimates 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 net margin of 17.07% and a return on equity of 33.25%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 EPS. On average, equities research analysts expect that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s payout ratio is currently 69.48%.

Procter & Gamble Company Profile

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.