Parsons Capital Management Inc. RI Trims Holdings in Procter & Gamble Co (NYSE:PG)

Parsons Capital Management Inc. RI lowered its holdings in shares of Procter & Gamble Co (NYSE:PG) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 115,811 shares of the company’s stock after selling 2,064 shares during the period. Procter & Gamble comprises about 1.4% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 10th biggest position. Parsons Capital Management Inc. RI’s holdings in Procter & Gamble were worth $12,699,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in Procter & Gamble by 26.4% during the 1st quarter. FMR LLC now owns 35,400,538 shares of the company’s stock valued at $3,683,425,000 after buying an additional 7,389,251 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in Procter & Gamble by 15,168.2% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,936,221 shares of the company’s stock valued at $269,897,000 after buying an additional 2,916,990 shares during the period. California Public Employees Retirement System boosted its position in Procter & Gamble by 24.3% during the 4th quarter. California Public Employees Retirement System now owns 8,672,672 shares of the company’s stock valued at $797,192,000 after buying an additional 1,698,051 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Procter & Gamble by 150.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,803,802 shares of the company’s stock valued at $308,683,000 after buying an additional 1,682,777 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its position in Procter & Gamble by 11,029.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,107,725 shares of the company’s stock valued at $110,772,000 after buying an additional 1,097,772 shares during the period. 62.57% of the stock is currently owned by institutional investors.

In related news, insider Carolyn M. Tastad sold 25,645 shares of Procter & Gamble stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $106.08, for a total transaction of $2,720,421.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jon R. Moeller sold 141,575 shares of Procter & Gamble stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $118.05, for a total transaction of $16,712,928.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,392 shares of company stock valued at $32,382,367. 1.84% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on PG shares. Morgan Stanley set a $129.00 price target on shares of Procter & Gamble and gave the company a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus set a $117.00 price target on shares of Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays raised shares of Procter & Gamble from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $94.00 to $112.00 in a research report on Wednesday, April 24th. UBS Group set a $122.00 price target on shares of Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, SunTrust Banks increased their price target on shares of Procter & Gamble to $120.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.15.

Shares of NYSE PG opened at $119.88 on Tuesday. Procter & Gamble Co has a 1 year low of $78.49 and a 1 year high of $121.76. The stock has a market cap of $298.22 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 3.45 and a beta of 0.45. The firm has a 50-day moving average of $115.45 and a 200 day moving average of $106.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.75 and a quick ratio of 0.58.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. Procter & Gamble had a net margin of 5.76% and a return on equity of 23.03%. The company had revenue of $17.09 billion during the quarter, compared to analysts’ expectations of $16.86 billion. During the same period last year, the company posted $0.94 EPS. Procter & Gamble’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Procter & Gamble Co will post 4.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $0.7459 per share. The ex-dividend date was Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a yield of 2.49%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.93%.

Procter & Gamble Profile

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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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