The Procter & Gamble Company (NYSE:PG) Shares Sold by Cadence Bank

Cadence Bank lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,224 shares of the company’s stock after selling 783 shares during the quarter. Procter & Gamble comprises approximately 1.7% of Cadence Bank’s investment portfolio, making the stock its 9th biggest position. Cadence Bank’s holdings in Procter & Gamble were worth $24,633,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,473 shares of company stock worth $12,313,697. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 0.2 %

PG traded up $0.39 during trading on Tuesday, hitting $177.78. 1,406,513 shares of the stock traded hands, compared to its average volume of 6,721,287. The firm has a 50-day moving average of $170.04 and a 200 day moving average of $168.74. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $179.01. The firm has a market capitalization of $418.68 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 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 company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.26%. Procter & Gamble’s payout ratio is 69.31%.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. 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 report on Thursday, August 29th. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Finally, DA Davidson upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and upped their target price for the stock from $160.00 to $209.00 in a report on Monday. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $180.45.

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.