Cannell & Spears LLC Decreases Holdings in The Procter & Gamble Company (NYSE:PG)

Cannell & Spears LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,387 shares of the company’s stock after selling 677 shares during the period. Cannell & Spears LLC’s holdings in Procter & Gamble were worth $11,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewSquare Capital LLC lifted its position in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. Hoey Investments Inc. raised its stake in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble during the 4th quarter worth $34,000. Atlantic Private Wealth LLC grew its holdings in shares of Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after buying an additional 101 shares in the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $38,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PG shares. Piper Sandler dropped their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. DA Davidson reiterated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.82.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

NYSE PG opened at $167.94 on Monday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The firm has a 50 day simple moving average of $168.60 and a 200-day simple moving average of $169.31. The firm has a market cap of $393.80 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 earnings per share. Equities research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.01%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.