Hardin Capital Partners LLC Makes New Investment in The Procter & Gamble Company (NYSE:PG)

Hardin Capital Partners LLC acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,672 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds have also made changes to their positions in the stock. Pinkerton Retirement Specialists LLC lifted its position in shares of Procter & Gamble by 8.2% in the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 24,235 shares of the company’s stock worth $3,997,000 after acquiring an additional 1,834 shares during the period. GHP Investment Advisors Inc. lifted its position in Procter & Gamble by 1.7% in the second quarter. GHP Investment Advisors Inc. now owns 83,535 shares of the company’s stock worth $13,777,000 after purchasing an additional 1,376 shares during the period. Meeder Advisory Services Inc. increased its holdings in Procter & Gamble by 41.8% in the 2nd quarter. Meeder Advisory Services Inc. now owns 44,203 shares of the company’s stock valued at $7,290,000 after buying an additional 13,020 shares during the period. Vest Financial LLC lifted its holdings in shares of Procter & Gamble by 11.8% during the 2nd quarter. Vest Financial LLC now owns 276,596 shares of the company’s stock worth $45,616,000 after acquiring an additional 29,232 shares during the period. Finally, Main Street Financial Solutions LLC boosted its position in shares of Procter & Gamble by 9.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 25,498 shares of the company’s stock valued at $4,205,000 after acquiring an additional 2,288 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PG shares. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. BNP Paribas assumed coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price target on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $175.79.

Procter & Gamble Price Performance

NYSE:PG opened at $173.53 on Friday. The stock’s 50 day moving average price is $169.20 and its two-hundred day moving average price is $165.07. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $177.94. The firm has a market capitalization of $409.56 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 3.77 and a beta of 0.41. 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 results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same period last year, the firm posted $1.37 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. Procter & Gamble’s payout ratio is presently 65.85%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO R. Alexandra Keith sold 3,373 shares of the company’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 directly owns 21,513 shares in the company, valued at approximately $3,657,210. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 375,553 shares of company stock valued at $63,829,141. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble Company Profile

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.