Crescent Sterling Ltd. Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Crescent Sterling Ltd. reduced its position in The Procter & Gamble Company (NYSE:PG) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,362 shares of the company’s stock after selling 786 shares during the period. Procter & Gamble accounts for 3.8% of Crescent Sterling Ltd.’s portfolio, making the stock its 5th biggest position. Crescent Sterling Ltd.’s holdings in Procter & Gamble were worth $3,749,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PG. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble during the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble during the second quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $33,000. Quest Partners LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PG shares. Wells Fargo & Company cut their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. DA Davidson reissued a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Friday, December 27th. 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 objective on the stock. Finally, Morgan Stanley lifted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.75.

Procter & Gamble Stock Down 2.1 %

Shares of PG opened at $158.73 on Monday. The company has a market capitalization of $373.82 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.70 and a beta of 0.45. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week high of $180.43. The stock’s 50-day moving average price is $169.64 and its 200-day moving average price is $169.61. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Insider Buying and Selling

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,439 shares of company stock valued at $13,317,460. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company Profile

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.