Corundum Group Inc. Has $1.28 Million Stake in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Corundum Group Inc. lowered its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 31.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,395 shares of the company’s stock after selling 3,316 shares during the quarter. Corundum Group Inc.’s holdings in Procter & Gamble were worth $1,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Steele Capital Management Inc. acquired a new position in shares of Procter & Gamble during the 1st quarter worth about $204,000. GAMMA Investing LLC lifted its holdings in shares of Procter & Gamble by 67.2% during the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after buying an additional 10,777 shares during the last quarter. Consilio Wealth Advisors LLC boosted its position in shares of Procter & Gamble by 27.7% in the first quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock valued at $283,000 after acquiring an additional 379 shares during the period. AMF Tjanstepension AB grew its stake in shares of Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. Finally, Talbot Financial LLC raised its stake in Procter & Gamble by 1.5% during the 1st quarter. Talbot Financial LLC now owns 65,600 shares of the company’s stock valued at $10,644,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PG. Royal Bank of Canada increased their target price on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Stifel Nicolaus raised their target price on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Check Out Our Latest Report on Procter & Gamble

Insider Buying and Selling at Procter & Gamble

In other news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. This trade 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 this link. Also, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the completion of the sale, the chief executive officer now owns 269,172 shares of the company’s stock, valued at $46,203,373.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,194 shares of company stock worth $65,140,718. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $171.28 on Monday. The business’s fifty day moving average is $171.77 and its two-hundred day moving average is $167.24. The firm has a market cap of $404.24 billion, a P/E ratio of 27.99, a P/E/G ratio of 3.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. Equities research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.35%. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Procter & Gamble 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.

Further Reading

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