Fayez Sarofim & Co Sells 92,421 Shares of Procter & Gamble Company (The) $PG

Fayez Sarofim & Co reduced its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,517,312 shares of the company’s stock after selling 92,421 shares during the period. Procter & Gamble accounts for approximately 1.6% of Fayez Sarofim & Co’s investment portfolio, making the stock its 17th biggest holding. Fayez Sarofim & Co’s holdings in Procter & Gamble were worth $696,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in Procter & Gamble during the third quarter worth approximately $25,000. Corundum Trust Company INC acquired a new position in Procter & Gamble in the third quarter valued at approximately $32,000. Caitlin John LLC bought a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $34,000. Marquette Asset Management LLC bought a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $40,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

NYSE PG opened at $150.57 on Monday. The company has a market cap of $349.91 billion, a P/E ratio of 22.31, a PEG ratio of 5.04 and a beta of 0.37. The company has a fifty day simple moving average of $153.32 and a 200 day simple moving average of $150.96. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $174.80.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, January 23rd. Procter & Gamble’s dividend payout ratio is currently 62.67%.

Insiders Place Their Bets

In other news, Chairman Jon R. Moeller sold 162,232 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $162.45, for a total value of $26,354,588.40. Following the completion of the sale, the chairman directly owned 319,385 shares of the company’s stock, valued at $51,884,093.25. This represents a 33.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 12,827 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $160.31, for a total value of $2,056,296.37. Following the completion of the transaction, the insider owned 12,639 shares in the company, valued at $2,026,158.09. This represents a 50.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,618 shares of company stock worth $55,462,643 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PG. Weiss Ratings reiterated a “hold (c)” rating on shares of Procter & Gamble in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Procter & Gamble from $176.00 to $171.00 and set a “buy” rating for the company in a report on Monday, December 8th. Rothschild & Co Redburn lifted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Barclays set a $155.00 price objective on shares of Procter & Gamble in a research report on Friday, January 16th. Finally, Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.33.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.