The Procter & Gamble Company (NYSE:PG) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its position in The Procter & Gamble Company (NYSE:PG) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,796,979 shares of the company’s stock after selling 6,740 shares during the quarter. Parnassus Investments LLC owned 0.16% of Procter & Gamble worth $657,637,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble in the third quarter valued at approximately $301,950,000. SouthState Corp raised its holdings in Procter & Gamble by 0.4% during the third quarter. SouthState Corp now owns 78,995 shares of the company’s stock worth $13,682,000 after purchasing an additional 289 shares in the last quarter. Guardian Wealth Advisors LLC raised its holdings in Procter & Gamble by 2.5% during the third quarter. Guardian Wealth Advisors LLC now owns 4,049 shares of the company’s stock worth $701,000 after purchasing an additional 99 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Procter & Gamble by 8.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 37,479 shares of the company’s stock worth $6,491,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Wrapmanager Inc. raised its holdings in Procter & Gamble by 9.0% during the third quarter. Wrapmanager Inc. now owns 11,274 shares of the company’s stock worth $1,953,000 after purchasing an additional 932 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, COO Shailesh Jejurikar sold 14,034 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $169.78, for a total value of $2,382,692.52. Following the sale, the chief operating officer now directly owns 9,856 shares in the company, valued at $1,673,351.68. The trade was a 58.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This represents a 87.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,727 shares of company stock worth $46,014,037. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PG. Morgan Stanley raised their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. DA Davidson raised their price objective on shares of Procter & Gamble from $159.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Stifel Nicolaus raised their price objective 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Nine investment 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 stock. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Stock Performance

NYSE:PG opened at $170.80 on Tuesday. The firm’s fifty day moving average price is $170.21 and its 200 day moving average price is $168.45. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm has a market cap of $402.24 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its 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. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. Procter & Gamble’s payout ratio is currently 69.48%.

Procter & Gamble Company 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.