SummitTX Capital L.P. Cuts Position in Procter & Gamble Company (The) $PG

SummitTX Capital L.P. decreased its stake in Procter & Gamble Company (The) (NYSE:PG) by 62.6% in the 1st quarter, Holdings Channel reports. The firm owned 20,742 shares of the company’s stock after selling 34,770 shares during the quarter. SummitTX Capital L.P.’s holdings in Procter & Gamble were worth $2,996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. Family Manage LLC boosted its position in Procter & Gamble by 3.2% during the first quarter. Family Manage LLC now owns 4,317 shares of the company’s stock worth $624,000 after purchasing an additional 135 shares in the last quarter. Cardiff Park Advisors LLC increased its position in shares of Procter & Gamble by 10.0% in the first quarter. Cardiff Park Advisors LLC now owns 7,528 shares of the company’s stock valued at $1,087,000 after buying an additional 682 shares in the last quarter. Gateway Wealth Partners LLC raised its stake in shares of Procter & Gamble by 347.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 17,281 shares of the company’s stock worth $2,496,000 after buying an additional 13,416 shares during the last quarter. Wealth Watch Advisors INC raised its stake in shares of Procter & Gamble by 6.0% during the 1st quarter. Wealth Watch Advisors INC now owns 8,726 shares of the company’s stock worth $1,260,000 after buying an additional 495 shares during the last quarter. Finally, Everest Financial Group LLC purchased a new stake in shares of Procter & Gamble in the 1st quarter worth about $1,214,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PG. BMO Capital Markets increased their price objective on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Sanford C. Bernstein initiated coverage on shares of Procter & Gamble in a report on Thursday, June 11th. They issued a “market perform” rating and a $156.00 price target on the stock. Morgan Stanley lowered their price target on shares of Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Bank of America cut their price objective on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, Barclays upped their target price on Procter & Gamble from $146.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.74.

Procter & Gamble Stock Up 0.6%

Shares of PG opened at $149.59 on Wednesday. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $167.25. The company’s fifty day moving average is $147.63 and its two-hundred day moving average is $148.90. The firm has a market cap of $348.33 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 7.39 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.44.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be given a $1.0885 dividend. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, July 24th. Procter & Gamble’s dividend payout ratio (DPR) is 63.60%.

Procter & Gamble 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.