Shepherd Financial Partners LLC Acquires 1,452 Shares of Procter & Gamble Co (NYSE:PG)
Shepherd Financial Partners LLC boosted its holdings in Procter & Gamble Co (NYSE:PG) by 27.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,815 shares of the company’s stock after acquiring an additional 1,452 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Procter & Gamble were worth $750,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Procter & Gamble during the 4th quarter worth approximately $3,338,757,000. Janus Henderson Group PLC lifted its position in shares of Procter & Gamble by 117.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,252,849 shares of the company’s stock worth $780,951,000 after buying an additional 3,376,626 shares in the last quarter. Man Group plc lifted its position in shares of Procter & Gamble by 81.8% during the 4th quarter. Man Group plc now owns 2,735,582 shares of the company’s stock worth $341,674,000 after buying an additional 1,231,124 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 41,396,782 shares of the company’s stock worth $5,161,642,000 after buying an additional 1,216,202 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Procter & Gamble by 158.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,919,565 shares of the company’s stock worth $239,754,000 after buying an additional 1,177,862 shares in the last quarter. 64.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO R. Alexandra Keith sold 7,360 shares of Procter & Gamble stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $120.00, for a total transaction of $883,200.00. Following the completion of the sale, the chief executive officer now directly owns 44,746 shares of the company’s stock, valued at approximately $5,369,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nelson Peltz sold 404,714 shares of Procter & Gamble stock in a transaction on Friday, May 15th. The stock was sold at an average price of $113.01, for a total transaction of $45,736,729.14. Following the sale, the director now directly owns 3,891 shares of the company’s stock, valued at $439,721.91. The disclosure for this sale can be found here. Insiders have sold a total of 8,802,488 shares of company stock valued at $1,048,532,939 over the last 90 days. Company insiders own 1.75% of the company’s stock.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, April 17th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. The firm had revenue of $17.21 billion during the quarter, compared to analyst estimates of $17.29 billion. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. On average, equities research analysts forecast that Procter & Gamble Co will post 4.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were given a dividend of $0.7907 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.75. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, April 23rd. Procter & Gamble’s payout ratio is 69.91%.
Several research firms have commented on PG. Argus raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Thursday, March 26th. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and lowered their price target for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Bank of America reaffirmed a “buy” rating and issued a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. TheStreet raised shares of Procter & Gamble from a “c+” rating to a “b” rating in a report on Tuesday, April 14th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a report on Tuesday, April 14th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $130.31.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
Further Reading: What are economic reports?
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.