Corundum Group Inc. Has $1.77 Million Position in The Procter & Gamble Company (NYSE:PG)

Corundum Group Inc. lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 46.0% during the second quarter, HoldingsChannel reports. The firm owned 10,711 shares of the company’s stock after acquiring an additional 3,376 shares during the quarter. Corundum Group Inc.’s holdings in Procter & Gamble were worth $1,766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advantage Trust Co acquired a new stake in Procter & Gamble in the 4th quarter valued at approximately $28,000. Naples Money Management LLC acquired a new stake in Procter & Gamble in the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in Procter & Gamble in the 4th quarter valued at approximately $31,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In related news, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now owns 21,513 shares in the company, valued at approximately $3,657,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon R. Moeller sold 72,174 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the sale, 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 quarter, insiders sold 116,313 shares of company stock valued at $19,703,643. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PG. Royal Bank of Canada raised their price target on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Argus raised their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Evercore ISI raised their price target on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Barclays decreased their price target on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, TD Cowen began coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.95.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded down $0.88 during trading on Thursday, reaching $167.92. 9,491,362 shares of the company’s stock were exchanged, compared to its average volume of 6,681,171. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $171.72. The company has a market cap of $396.31 billion, a P/E ratio of 27.44, a PEG ratio of 3.70 and a beta of 0.41. The firm’s 50-day moving average price is $166.98 and its 200 day moving average price is $163.13.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping 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 company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. Procter & Gamble’s revenue was down .1% on a year-over-year basis. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.40%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.69%.

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.