Cadence Bank Has $24.63 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Cadence Bank trimmed its stake in The Procter & Gamble Company (NYSE:PG) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 142,224 shares of the company’s stock after selling 783 shares during the period. Procter & Gamble makes up about 1.7% of Cadence Bank’s investment portfolio, making the stock its 9th biggest position. Cadence Bank’s holdings in Procter & Gamble were worth $24,633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Acorn Creek Capital LLC lifted its stake in shares of Procter & Gamble by 2.8% during the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after buying an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. grew its stake in Procter & Gamble by 1.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares during the last quarter. Hudson Value Partners LLC increased its holdings in shares of Procter & Gamble by 4.1% in the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after purchasing an additional 60 shares during the period. Traveka Wealth LLC raised its stake in shares of Procter & Gamble by 1.7% in the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after purchasing an additional 61 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the subject of a number of recent research reports. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Finally, Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded up $0.39 on Tuesday, hitting $177.78. The company’s stock had a trading volume of 1,406,513 shares, compared to its average volume of 6,721,287. 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 has a fifty day moving average price of $170.04 and a 200-day moving average price of $168.74. The company has a market capitalization of $418.68 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $179.01.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion during 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. On average, equities research analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. This trade represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,473 shares of company stock worth $12,313,697 over the last three months. 0.18% of the stock is owned by insiders.

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.