Wellington Management Group LLP Cuts Stock Position in Procter & Gamble Company (The) $PG

Wellington Management Group LLP cut its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,354,955 shares of the company’s stock after selling 2,483,736 shares during the quarter. Wellington Management Group LLP owned 0.49% of Procter & Gamble worth $1,744,689,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays set a $155.00 target price on Procter & Gamble in a research report on Friday, January 16th. Wells Fargo & Company restated an “overweight” rating and issued a $177.00 price target on shares of Procter & Gamble in a research note on Tuesday, February 17th. TD Cowen cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and raised their price objective for the company from $150.00 to $156.00 in a research note on Tuesday, January 27th. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $157.00 to $165.00 in a report on Friday, January 23rd. Finally, UBS Group increased their target price on shares of Procter & Gamble from $161.00 to $170.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.33.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 36,093 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $162.33, for a total value of $5,858,976.69. Following the completion of the transaction, the chief executive officer owned 34,994 shares of the company’s stock, valued at approximately $5,680,576.02. The trade was a 50.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 15,169 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $162.28, for a total transaction of $2,461,625.32. Following the transaction, the insider directly owned 44,735 shares in the company, valued at $7,259,595.80. The trade was a 25.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 348,618 shares of company stock valued at $55,462,643. Corporate insiders own 0.20% of the company’s stock.

Procter & Gamble Stock Up 0.0%

Procter & Gamble stock opened at $150.57 on Friday. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $174.80. The firm has a market capitalization of $349.91 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 5.03 and a beta of 0.37. The stock’s fifty day moving average is $153.32 and its two-hundred day moving average is $151.03. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, January 23rd were issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, January 23rd. Procter & Gamble’s dividend payout ratio is 62.52%.

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.