Westpac Banking Corp Has $24.64 Million Position in Procter & Gamble Company (The) (PG)

Westpac Banking Corp lowered its stake in Procter & Gamble Company (The) (NYSE:PG) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,673 shares of the company’s stock after selling 35,568 shares during the period. Westpac Banking Corp’s holdings in Procter & Gamble Company (The) were worth $24,639,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble Company (The) during the fourth quarter valued at about $1,918,188,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Procter & Gamble Company (The) during the fourth quarter valued at about $127,893,000. Karp Capital Management Corp bought a new stake in Procter & Gamble Company (The) during the first quarter valued at about $126,275,000. Hermes Investment Management Ltd. raised its stake in Procter & Gamble Company (The) by 2,810.3% in the first quarter. Hermes Investment Management Ltd. now owns 738,390 shares of the company’s stock valued at $66,344,000 after buying an additional 713,018 shares during the period. Finally, British Airways Pensions Investment Management Ltd bought a new stake in Procter & Gamble Company (The) during the first quarter valued at about $52,682,000. 59.48% of the stock is currently owned by institutional investors.

Shares of Procter & Gamble Company (PG) opened at 92.47 on Friday. The stock’s 50 day moving average price is $89.57 and its 200-day moving average price is $89.11. The firm has a market capitalization of $235.80 billion, a price-to-earnings ratio of 16.53 and a beta of 0.68. Procter & Gamble Company has a 52 week low of $81.18 and a 52 week high of $92.95.

Procter & Gamble Company (The) (NYSE:PG) last issued its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $16.08 billion during the quarter, compared to analysts’ expectations of $16.01 billion. Procter & Gamble Company (The) had a return on equity of 19.97% and a net margin of 23.56%. Procter & Gamble Company (The)’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. Equities analysts predict that Procter & Gamble Company will post $4.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 21st were issued a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, July 19th. Procter & Gamble Company (The)’s dividend payout ratio is presently 49.37%.

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PG has been the topic of several analyst reports. Vetr raised Procter & Gamble Company (The) from a “hold” rating to a “buy” rating and set a $94.67 target price on the stock in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and set a $103.00 target price on shares of Procter & Gamble Company (The) in a report on Wednesday, April 26th. Stifel Nicolaus reduced their target price on Procter & Gamble Company (The) from $88.00 to $87.00 and set a “hold” rating on the stock in a report on Thursday, April 27th. Zacks Investment Research lowered Procter & Gamble Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $92.00 price objective (up from $90.00) on shares of Procter & Gamble Company (The) in a research note on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.48.

In other Procter & Gamble Company (The) news, insider Ioannis Skoufalos sold 3,879 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $86.17, for a total transaction of $334,253.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Taylor sold 6,382 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $92.04, for a total value of $587,399.28. Following the transaction, the chief executive officer now directly owns 134,884 shares of the company’s stock, valued at approximately $12,414,723.36. The disclosure for this sale can be found here. Insiders have sold a total of 127,032 shares of company stock valued at $11,130,014 over the last 90 days. 0.35% of the stock is currently owned by company insiders.

About Procter & Gamble Company (The)

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.

Institutional Ownership by Quarter for Procter & Gamble Company (The) (NYSE:PG)

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