CNB Bank Has $2.76 Million Position in Procter & Gamble Company (The) (NYSE:PG)

CNB Bank decreased its stake in Procter & Gamble Company (The) (NYSE:PG) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,191 shares of the company’s stock after selling 1,350 shares during the period. Procter & Gamble accounts for about 1.4% of CNB Bank’s holdings, making the stock its 15th biggest holding. CNB Bank’s holdings in Procter & Gamble were worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC boosted its position in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Navigoe LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Hoey Investments Inc. grew its stake in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new stake in Procter & Gamble in the fourth quarter worth approximately $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of a number of research analyst reports. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an “overweight” rating in a report on Friday, April 25th. Raymond James Financial cut their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Erste Group Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Citigroup dropped their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Truist Financial reduced their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $178.45.

Procter & Gamble Stock Down 0.2%

PG stock opened at $158.73 on Friday. The firm has a market capitalization of $372.14 billion, a PE ratio of 25.19, a P/E/G ratio of 4.69 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. The stock’s 50 day moving average is $162.65 and its 200-day moving average is $165.74.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the business earned $1.52 EPS. The business’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.66%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s dividend payout ratio is presently 67.14%.

Procter & Gamble 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.