AMI Asset Management Corp Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

AMI Asset Management Corp trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,513 shares of the company’s stock after selling 199 shares during the period. AMI Asset Management Corp’s holdings in Procter & Gamble were worth $894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after acquiring an additional 3,047,557 shares during the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $3,956,117,000. Charles Schwab Investment Management Inc. raised its position in shares of Procter & Gamble by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after purchasing an additional 206,165 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Procter & Gamble by 5.6% during the 4th quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock valued at $1,547,021,000 after buying an additional 559,358 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Procter & Gamble by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after buying an additional 246,323 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE PG opened at $163.83 on Friday. The company has a 50-day moving average price of $165.74 and a two-hundred day moving average price of $159.22. The stock has a market cap of $386.66 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $169.41.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same period last year, the firm earned $1.37 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a $1.0065 dividend. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.46%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Wall Street Analyst Weigh In

A number of research firms have commented on PG. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Barclays lifted their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Argus boosted their price objective on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group increased their target price on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.72.

Insider Activity at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders sold 154,544 shares of company stock worth $25,413,051 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.