Lazari Capital Management Inc. Reduces Stake in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Lazari Capital Management Inc. lessened its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 11.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,394 shares of the company’s stock after selling 297 shares during the quarter. Lazari Capital Management Inc.’s holdings in Procter & Gamble were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc lifted its position in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after acquiring an additional 733,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Procter & Gamble by 9.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after purchasing an additional 545,601 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after purchasing an additional 79,665 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Procter & Gamble by 3.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after purchasing an additional 216,300 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the transaction, the chief financial officer now owns 37,208 shares in the company, valued at $6,325,360. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 383,194 shares of company stock valued at $65,140,718 over the last 90 days. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PG. Morgan Stanley raised their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen initiated coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Evercore ISI raised their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Check Out Our Latest Stock Analysis on Procter & Gamble

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $169.73 on Wednesday. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The company has a market capitalization of $400.59 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The stock’s fifty day moving average is $171.87 and its two-hundred day moving average is $167.43. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG – Get Free Report) last posted 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 firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. Procter & Gamble’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. As a group, analysts expect that The Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Announces Dividend

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

Procter & Gamble Company Profile

(Free Report)

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.

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