Lumbard & Kellner LLC Buys Shares of 2,504 The Procter & Gamble Company (NYSE:PG)

Lumbard & Kellner LLC bought a new stake in The Procter & Gamble Company (NYSE:PG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,504 shares of the company’s stock, valued at approximately $413,000.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Gilbert & Cook Inc. boosted its position in Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock valued at $2,523,000 after buying an additional 1,237 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of Procter & Gamble by 8.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 84,360 shares of the company’s stock worth $12,341,000 after purchasing an additional 6,390 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in shares of Procter & Gamble by 4.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,563 shares of the company’s stock worth $522,000 after purchasing an additional 140 shares during the period. Quest Partners LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth $1,280,000. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Procter & Gamble by 9.3% during the fourth quarter. CreativeOne Wealth LLC now owns 17,537 shares of the company’s stock worth $2,570,000 after purchasing an additional 1,490 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insiders Place Their Bets

In other Procter & Gamble news, 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 sale, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 value of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,553 shares of company stock valued at $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of recent research reports. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays cut their price target on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Evercore ISI lifted their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, TD Cowen initiated coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $175.79.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $175.93 on Wednesday. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94. The firm has a market capitalization of $415.22 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 3.76 and a beta of 0.41. The business has a 50-day simple moving average of $169.80 and a 200 day simple moving average of $165.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

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.