Legacy Capital Group California Inc. Acquires New Shares in The Procter & Gamble Company (NYSE:PG)

Legacy Capital Group California Inc. bought a new stake in The Procter & Gamble Company (NYSE:PG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,325 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds have also recently bought and sold shares of the company. Alera Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after purchasing an additional 60 shares in the last quarter. Fiduciary Alliance LLC raised its position in Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after buying an additional 61 shares during the period. Demars Financial Group LLC lifted its stake in Procter & Gamble by 4.4% in the 4th quarter. Demars Financial Group LLC now owns 1,497 shares of the company’s stock worth $219,000 after acquiring an additional 63 shares in the last quarter. LCM Capital Management Inc boosted its position in Procter & Gamble by 1.1% during the 1st quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock worth $925,000 after acquiring an additional 63 shares during the period. Finally, Home Federal Bank of Tennessee grew its stake in Procter & Gamble by 0.3% during the 2nd quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock valued at $3,846,000 after acquiring an additional 63 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO R. Alexandra Keith sold 3,373 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the 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 transaction, the chief executive officer now owns 21,513 shares of the company’s stock, valued at $3,657,210. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the transaction, the chief executive officer now owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The disclosure for this sale can be found here. Insiders have sold a total of 84,389 shares of company stock worth $14,373,932 in the last three months. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

PG traded down $0.45 during trading on Wednesday, reaching $169.96. 2,149,381 shares of the company’s stock were exchanged, compared to its average volume of 6,615,735. The business has a 50 day moving average price of $167.07 and a 200 day moving average price of $163.45. The company has a market capitalization of $401.13 billion, a P/E ratio of 27.82, a PEG ratio of 3.66 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $171.89. The company has a quick ratio of 0.53, a current ratio of 0.73 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 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. As a group, analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.69%.

Analysts Set New Price Targets

Several analysts recently commented on PG shares. Stifel Nicolaus raised their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Barclays reduced their price objective on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. BNP Paribas initiated coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price on the stock. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, Argus raised their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $173.95.

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.