The Procter & Gamble Company (NYSE:PG) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC cut its position in The Procter & Gamble Company (NYSE:PG) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,992 shares of the company’s stock after selling 226 shares during the quarter. Procter & Gamble accounts for 1.4% of Kennon Green & Company LLC’s holdings, making the stock its 27th largest holding. Kennon Green & Company LLC’s holdings in Procter & Gamble were worth $1,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Procter & Gamble during the fourth quarter worth about $3,956,117,000. Fisher Asset Management LLC increased its stake in Procter & Gamble by 5.5% during the 4th quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock worth $1,546,302,000 after buying an additional 554,451 shares during the period. Franklin Resources Inc. lifted its holdings in Procter & Gamble by 2.6% during the 4th quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after buying an additional 246,323 shares in the last quarter. Sanders Capital LLC boosted its position in Procter & Gamble by 3.3% in the 4th quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock valued at $1,023,949,000 after buying an additional 223,798 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after acquiring an additional 545,601 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. In other news, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now 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 90 days, insiders have sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PG. Citigroup lifted their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BNP Paribas initiated coverage on shares of Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

Procter & Gamble Stock Performance

NYSE:PG opened at $174.08 on Friday. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $177.94. The company has a market capitalization of $410.85 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 3.77 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $169.38 and a two-hundred day moving average price of $165.21.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. As a group, research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

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.