Burns J W & Co. Inc. NY Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Burns J W & Co. Inc. NY trimmed its stake in The Procter & Gamble Company (NYSE:PG) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,529 shares of the company’s stock after selling 2,145 shares during the quarter. Procter & Gamble makes up 1.4% of Burns J W & Co. Inc. NY’s holdings, making the stock its 15th biggest position. Burns J W & Co. Inc. NY’s holdings in Procter & Gamble were worth $10,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advantage Trust Co bought a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $28,000. Wyrmwood Management LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $29,000. Naples Money Management LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $31,000. Finally, Criterion Capital Advisors LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $33,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Down 1.0 %

NYSE PG traded down $1.70 on Friday, hitting $164.92. 9,253,317 shares of the stock were exchanged, compared to its average volume of 6,088,934. The firm has a market capitalization of $389.23 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.38 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $169.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The stock has a fifty day moving average price of $165.60 and a two-hundred day moving average price of $158.73.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. The firm had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 earnings per share. Research analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a yield of 2.44%. Procter & Gamble’s payout ratio is currently 65.85%.

Analysts Set New Price Targets

PG has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price objective for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Argus upped their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.72.

Insiders Place Their Bets

In other news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the sale, the insider now directly owns 12,929 shares in the company, valued at approximately $2,168,451.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.