Park Edge Advisors LLC Has $2.65 Million Stake in The Procter & Gamble Company (NYSE:PG)

Park Edge Advisors LLC reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 11.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,304 shares of the company’s stock after selling 2,044 shares during the quarter. Procter & Gamble accounts for about 0.8% of Park Edge Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Park Edge Advisors LLC’s holdings in Procter & Gamble were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PG. OneAscent Wealth Management LLC grew its holdings in shares of Procter & Gamble by 24.6% in the 1st quarter. OneAscent Wealth Management LLC now owns 2,240 shares of the company’s stock valued at $363,000 after acquiring an additional 442 shares in the last quarter. Norris Perne & French LLP MI increased its position in shares of Procter & Gamble by 26.3% during the 1st quarter. Norris Perne & French LLP MI now owns 3,145 shares of the company’s stock worth $510,000 after purchasing an additional 655 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Procter & Gamble by 7.8% during the 1st quarter. Independence Bank of Kentucky now owns 29,187 shares of the company’s stock worth $4,736,000 after purchasing an additional 2,110 shares in the last quarter. Occidental Asset Management LLC grew its stake in shares of Procter & Gamble by 14.6% in the first quarter. Occidental Asset Management LLC now owns 2,500 shares of the company’s stock valued at $406,000 after buying an additional 318 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in Procter & Gamble by 14.7% during the first quarter. Hodges Capital Management Inc. now owns 9,912 shares of the company’s stock worth $1,608,000 after buying an additional 1,273 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Price Performance

Shares of NYSE PG traded down $1.40 during mid-day trading on Friday, hitting $168.22. 4,877,911 shares of the stock traded hands, compared to its average volume of 6,669,386. The company has a market cap of $396.16 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $171.93 and a two-hundred day simple moving average of $167.62. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94.

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

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at $2,212,043.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 397,986 shares of company stock valued at $67,642,430 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PG shares. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research report on Monday, September 30th. Evercore ISI upped their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble 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.