RNC Capital Management LLC Reduces Stake in The Procter & Gamble Company (NYSE:PG)

RNC Capital Management LLC lessened its position in The Procter & Gamble Company (NYSE:PG) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,304 shares of the company’s stock after selling 560 shares during the quarter. RNC Capital Management LLC’s holdings in Procter & Gamble were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB raised its stake in Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after buying an additional 1,466,115 shares during the last quarter. Tobam raised its stake in Procter & Gamble by 12.4% during the third quarter. Tobam now owns 7,487 shares of the company’s stock valued at $1,297,000 after buying an additional 827 shares during the last quarter. Boston Common Asset Management LLC increased its holdings in shares of Procter & Gamble by 2.2% in the 3rd quarter. Boston Common Asset Management LLC now owns 130,317 shares of the company’s stock worth $22,571,000 after purchasing an additional 2,867 shares in the last quarter. Keeler & Nadler Financial Planning & Wealth Management bought a new stake in shares of Procter & Gamble in the 3rd quarter worth $206,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Procter & Gamble by 1.8% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 16,904 shares of the company’s stock worth $2,928,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PG shares. DA Davidson reissued a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Evercore ISI boosted their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. JPMorgan Chase & Co. cut their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company boosted their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $180.53.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,097 shares of company stock valued at $25,635,076 over the last ninety days. 0.18% of the stock is owned by insiders.

Procter & Gamble Price Performance

NYSE:PG opened at $167.99 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $393.91 billion, a P/E ratio of 26.75, a P/E/G ratio of 3.73 and a beta of 0.45. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The business’s 50-day moving average is $167.53 and its 200 day moving average is $169.41.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal 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 paid a dividend of $1.0065 per share. The ex-dividend date is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.40%. Procter & Gamble’s payout ratio is currently 64.17%.

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.