Commerce Bank Sells 13,249 Shares of The Procter & Gamble Company (NYSE:PG)

Commerce Bank decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,428,874 shares of the company’s stock after selling 13,249 shares during the quarter. Procter & Gamble accounts for approximately 1.5% of Commerce Bank’s holdings, making the stock its 9th biggest holding. Commerce Bank’s holdings in Procter & Gamble were worth $247,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the second quarter valued at $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble in the 2nd quarter valued at $29,000. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new position in Procter & Gamble during the 2nd quarter valued at about $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble in the second quarter valued at about $44,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Up 0.0 %

NYSE:PG opened at $170.77 on Wednesday. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The stock has a 50-day moving average price of $170.07 and a two-hundred day moving average price of $168.49. The stock has a market cap of $402.17 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.67 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the business earned $1.83 EPS. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is presently 69.48%.

Analyst Upgrades and Downgrades

PG has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Evercore ISI upped their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $182.00 to $175.00 in a research report on Wednesday, July 24th. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 634 shares of the firm’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 completion of the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,727 shares of company stock worth $46,014,037. Corporate insiders own 0.18% 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.