Channel Wealth LLC Cuts Position in The Procter & Gamble Company (NYSE:PG)

Channel Wealth LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,393 shares of the company’s stock after selling 1,717 shares during the period. Channel Wealth LLC’s holdings in Procter & Gamble were worth $2,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PG. KMG Fiduciary Partners LLC increased its stake in Procter & Gamble by 1.2% during the 4th quarter. KMG Fiduciary Partners LLC now owns 78,952 shares of the company’s stock valued at $13,236,000 after purchasing an additional 928 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $94,000. Empirical Asset Management LLC raised its holdings in Procter & Gamble by 136.7% in the 4th quarter. Empirical Asset Management LLC now owns 88,305 shares of the company’s stock worth $14,804,000 after acquiring an additional 51,002 shares during the last quarter. Cvfg LLC bought a new position in Procter & Gamble in the 4th quarter valued at approximately $681,000. Finally, Bennett Associates Wealth Management purchased a new stake in Procter & Gamble during the 4th quarter valued at $279,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the sale, the chief executive officer now directly owns 39,977 shares in the company, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 in the last 90 days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.5 %

NYSE:PG opened at $161.35 on Friday. 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 $379.98 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a 50-day moving average of $169.32 and a 200 day moving average of $169.39. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.93 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s payout ratio is 69.48%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PG. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Barclays decreased their target price on shares of Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Evercore ISI upped their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.65.

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.