Burke & Herbert Bank & Trust Co. Trims Stake in Procter & Gamble Company (The) (NYSE:PG)

Burke & Herbert Bank & Trust Co. lowered its holdings in Procter & Gamble Company (The) (NYSE:PG) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,353 shares of the company’s stock after selling 2,692 shares during the quarter. Procter & Gamble accounts for 1.9% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 11th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Procter & Gamble were worth $7,899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cladis Investment Advisory LLC grew its position in shares of Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company’s stock worth $806,000 after acquiring an additional 236 shares during the last quarter. FAS Wealth Partners Inc. lifted its holdings in Procter & Gamble by 2.0% in the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock valued at $4,642,000 after acquiring an additional 549 shares during the period. Berkshire Asset Management LLC PA lifted its holdings in Procter & Gamble by 0.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock valued at $38,833,000 after acquiring an additional 2,179 shares during the period. Natural Investments LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $2,121,000. Finally, Yoffe Investment Management LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth $1,874,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Down 0.3%

Shares of NYSE:PG opened at $160.72 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The stock has a market capitalization of $376.82 billion, a P/E ratio of 25.51, a PEG ratio of 4.58 and a beta of 0.40. The stock has a 50-day simple moving average of $162.10 and a 200-day simple moving average of $165.30.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. Procter & Gamble’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. Equities analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.63%. Procter & Gamble’s payout ratio is 67.14%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PG shares. Evercore ISI reaffirmed an “outperform” rating and set a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Royal Bank Of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Citigroup cut their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus price target of $178.45.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer directly owned 51,965 shares of the company’s stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.