Brookstone Capital Management Lowers Holdings in Procter & Gamble Co (PG)
Brookstone Capital Management trimmed its position in Procter & Gamble Co (NYSE:PG) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,855 shares of the company’s stock after selling 1,751 shares during the quarter. Brookstone Capital Management’s holdings in Procter & Gamble were worth $7,447,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PG. Asset Planning Services Ltd. raised its position in shares of Procter & Gamble by 0.4% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after acquiring an additional 5 shares in the last quarter. Winfield Associates Inc. raised its position in shares of Procter & Gamble by 0.7% in the 2nd quarter. Winfield Associates Inc. now owns 2,260 shares of the company’s stock worth $197,000 after acquiring an additional 15 shares in the last quarter. Cascade Investment Advisors Inc. raised its position in shares of Procter & Gamble by 0.5% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 3,395 shares of the company’s stock worth $296,000 after acquiring an additional 17 shares in the last quarter. Iron Financial LLC raised its position in shares of Procter & Gamble by 0.8% in the 2nd quarter. Iron Financial LLC now owns 3,342 shares of the company’s stock worth $291,000 after acquiring an additional 25 shares in the last quarter. Finally, Davis Rea Ltd. raised its position in shares of Procter & Gamble by 0.7% in the 2nd quarter. Davis Rea Ltd. now owns 3,815 shares of the company’s stock worth $332,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 59.56% of the company’s stock.
In other news, insider Carolyn M. Tastad sold 5,300 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $89.18, for a total value of $472,654.00. Following the transaction, the insider now directly owns 57,191 shares of the company’s stock, valued at $5,100,293.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Juan Fernando Posada sold 4,878 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $89.80, for a total value of $438,044.40. Following the completion of the transaction, the insider now directly owns 25,429 shares in the company, valued at $2,283,524.20. The disclosure for this sale can be found here. Insiders sold 18,719 shares of company stock worth $1,661,544 over the last three months. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $16.65 billion for the quarter, compared to analyst estimates of $16.69 billion. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. sell-side analysts anticipate that Procter & Gamble Co will post 4.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be issued a $0.6896 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, January 18th. Procter & Gamble’s dividend payout ratio is presently 73.80%.
Several research firms have recently commented on PG. Jefferies Group reissued a “buy” rating and issued a $104.00 price target (up from $103.00) on shares of Procter & Gamble in a research report on Wednesday, September 20th. Bank of America boosted their price target on Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Procter & Gamble in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $88.00 target price on shares of Procter & Gamble in a research report on Sunday, December 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Procter & Gamble has a consensus rating of “Hold” and a consensus target price of $89.31.
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Procter & Gamble Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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