Magnus Financial Group LLC Trims Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Magnus Financial Group LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 2.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,689 shares of the company’s stock after selling 123 shares during the period. Magnus Financial Group LLC’s holdings in Procter & Gamble were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Alera Investment Advisors LLC boosted its holdings in Procter & Gamble by 1.2% during the 1st quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after acquiring an additional 60 shares during the period. Hudson Value Partners LLC boosted its stake in shares of Procter & Gamble by 4.1% during the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after purchasing an additional 60 shares during the period. Traveka Wealth LLC grew its holdings in shares of Procter & Gamble by 1.7% in the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of Procter & Gamble by 2.8% in the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after buying an additional 61 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its position in Procter & Gamble by 0.7% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock valued at $1,507,000 after buying an additional 61 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG stock opened at $173.61 on Wednesday. The stock has a market capitalization of $409.74 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The stock’s 50 day simple moving average is $171.68 and its 200 day simple moving average is $166.96. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same period last year, the firm posted $1.37 earnings per share. Procter & Gamble’s revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast 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 will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PG shares. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Thursday, August 29th. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. BNP Paribas initiated coverage on Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research report on Monday, September 30th. Finally, 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. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 7,007 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the transaction, the chief executive officer now directly owns 269,172 shares of the company’s stock, valued at $46,203,373.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jon R. Moeller sold 7,007 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the transaction, the chief executive officer now owns 269,172 shares in the company, valued at $46,203,373.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,194 shares of company stock valued at $65,140,718. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.