Procter & Gamble Co (PG) Position Cut by South State Corp

South State Corp trimmed its holdings in Procter & Gamble Co (NYSE:PG) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,703 shares of the company’s stock after selling 4,617 shares during the quarter. Procter & Gamble comprises 1.2% of South State Corp’s portfolio, making the stock its 18th largest holding. South State Corp’s holdings in Procter & Gamble were worth $10,984,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PG. Franklin Resources Inc. lifted its position in Procter & Gamble by 63.1% in the first quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock worth $883,964,000 after purchasing an additional 4,315,180 shares during the period. BlackRock Inc. lifted its position in Procter & Gamble by 1.9% in the first quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock worth $12,890,867,000 after purchasing an additional 2,961,408 shares during the period. C WorldWide Group Holding A S acquired a new stake in Procter & Gamble in the second quarter worth approximately $113,258,000. Unigestion Holding SA acquired a new stake in Procter & Gamble in the second quarter worth approximately $112,171,000. Finally, Schroder Investment Management Group lifted its position in Procter & Gamble by 31.6% in the first quarter. Schroder Investment Management Group now owns 4,928,265 shares of the company’s stock worth $390,712,000 after purchasing an additional 1,184,004 shares during the period. 58.54% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. ValuEngine upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Procter & Gamble from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Stifel Nicolaus reiterated a “hold” rating and set a $87.00 price objective on shares of Procter & Gamble in a research report on Monday, October 22nd. Wells Fargo & Co increased their price objective on Procter & Gamble from $78.00 to $84.00 and gave the company a “market perform” rating in a research report on Monday, October 22nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Procter & Gamble presently has a consensus rating of “Hold” and a consensus price target of $87.66.

In other news, insider Kathleen B. Fish sold 10,342 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $83.20, for a total value of $860,454.40. Following the completion of the sale, the insider now owns 16,382 shares in the company, valued at $1,362,982.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Price Matthew sold 11,626 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $82.00, for a total value of $953,332.00. Following the completion of the sale, the insider now owns 27,496 shares of the company’s stock, valued at approximately $2,254,672. The disclosure for this sale can be found here. Insiders sold 93,240 shares of company stock valued at $7,732,529 in the last 90 days. Corporate insiders own 1.84% of the company’s stock.

Shares of NYSE:PG opened at $88.68 on Thursday. The firm has a market cap of $221.50 billion, a PE ratio of 21.01, a P/E/G ratio of 2.89 and a beta of 0.59. Procter & Gamble Co has a one year low of $70.73 and a one year high of $93.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.80 and a quick ratio of 0.62.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 19th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.45 billion. Procter & Gamble had a return on equity of 21.20% and a net margin of 15.10%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, equities research analysts expect that Procter & Gamble Co will post 4.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be issued a $0.7172 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.24%. Procter & Gamble’s payout ratio is currently 68.01%.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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