Castle Rock Wealth Management LLC Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Castle Rock Wealth Management LLC lifted its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,969 shares of the company’s stock after acquiring an additional 1,135 shares during the period. Castle Rock Wealth Management LLC’s holdings in Procter & Gamble were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PG. Summit Global Investments grew its position in Procter & Gamble by 24.4% in the 4th quarter. Summit Global Investments now owns 16,500 shares of the company’s stock valued at $2,699,000 after buying an additional 3,232 shares during the last quarter. HBK Investments L P purchased a new position in Procter & Gamble in the 4th quarter valued at $813,000. Gordian Capital Singapore Pte Ltd purchased a new position in Procter & Gamble in the 4th quarter valued at $426,000. Banco de Sabadell S.A grew its position in Procter & Gamble by 60.9% in the 4th quarter. Banco de Sabadell S.A now owns 20,365 shares of the company’s stock valued at $3,324,000 after buying an additional 7,712 shares during the last quarter. Finally, LPL Financial LLC grew its position in Procter & Gamble by 2.8% in the 4th quarter. LPL Financial LLC now owns 1,771,606 shares of the company’s stock valued at $289,799,000 after buying an additional 48,248 shares during the last quarter. 63.45% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.4 %

Procter & Gamble stock opened at $136.21 on Friday. The stock has a market cap of $324.93 billion, a PE ratio of 23.44, a P/E/G ratio of 3.49 and a beta of 0.35. The stock has a 50-day moving average price of $142.58 and a 200 day moving average price of $147.19. The Procter & Gamble Company has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. Equities research analysts predict that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were given a dividend of $0.913 per share. This represents a $3.65 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jon R. Moeller sold 169,365 shares of Procter & Gamble stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $146.56, for a total value of $24,822,134.40. Following the completion of the sale, the chief executive officer now owns 164,761 shares in the company, valued at approximately $24,147,372.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Procter & Gamble news, CEO Jon R. Moeller sold 169,365 shares of Procter & Gamble stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $146.56, for a total value of $24,822,134.40. Following the completion of the sale, the chief executive officer now owns 164,761 shares in the company, valued at approximately $24,147,372.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 907 shares of Procter & Gamble stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $135,442.31. Following the completion of the sale, the insider now owns 6,253 shares of the company’s stock, valued at approximately $933,760.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays reduced their target price on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a report on Tuesday, August 2nd. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Evercore ISI set a $170.00 target price on Procter & Gamble in a report on Monday, June 20th. UBS Group reduced their target price on Procter & Gamble to $153.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company reduced their target price on Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus price target of $162.93.

Procter & Gamble Company Profile

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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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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