Versor Investments LP Trims Position in The Procter & Gamble Company (NYSE:PG)

Versor Investments LP lessened its stake in shares of The Procter & Gamble Company (NYSE:PG) by 12.6% in the third quarter, Holdings Channel reports. The institutional investor owned 6,200 shares of the company’s stock after selling 894 shares during the quarter. Versor Investments LP’s holdings in Procter & Gamble were worth $1,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC increased its holdings in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Radnor Capital Management LLC purchased a new position in shares of Procter & Gamble during the 3rd quarter valued at about $5,705,000. Welch Group LLC raised its stake in Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares during the period. GAMMA Investing LLC raised its stake in Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after purchasing an additional 10,777 shares during the period. Finally, Quintet Private Bank Europe S.A. raised its stake in Procter & Gamble by 15.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after purchasing an additional 55,620 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, DA Davidson upped their target price on Procter & Gamble from $159.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Price Performance

NYSE:PG opened at $166.08 on Tuesday. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock has a market cap of $391.13 billion, a PE ratio of 28.73, a P/E/G ratio of 3.63 and a beta of 0.42. The stock has a 50 day moving average price of $171.08 and a 200 day moving average price of $168.23.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. Equities research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,597 shares of company stock worth $53,268,499. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.