Sawgrass Asset Management LLC Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Sawgrass Asset Management LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,599 shares of the company’s stock after selling 294 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Procter & Gamble were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PG. China Universal Asset Management Co. Ltd. grew its position in shares of Procter & Gamble by 5.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock worth $5,192,000 after buying an additional 1,657 shares in the last quarter. Quent Capital LLC boosted its holdings in Procter & Gamble by 2.0% in the first quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after purchasing an additional 206 shares during the period. M&G Plc acquired a new position in Procter & Gamble in the first quarter worth $2,637,000. Resurgent Financial Advisors LLC boosted its holdings in Procter & Gamble by 3.2% in the first quarter. Resurgent Financial Advisors LLC now owns 5,114 shares of the company’s stock worth $830,000 after purchasing an additional 160 shares during the period. Finally, Davis R M Inc. boosted its holdings in Procter & Gamble by 4.6% in the first quarter. Davis R M Inc. now owns 217,424 shares of the company’s stock worth $35,277,000 after purchasing an additional 9,616 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $169.54 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $170.32 and its two-hundred day moving average price is $168.36. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock has a market cap of $399.27 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 31,797 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $5,380,688.34. Following the transaction, the chief executive officer now owns 300,777 shares of the company’s stock, valued at approximately $50,897,483.94. This trade represents a 9.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares in the company, valued at $2,212,043.84. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PG. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.