BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 168,334 Shares of The Procter & Gamble Company (NYSE:PG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in The Procter & Gamble Company (NYSE:PG) by 59.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,696 shares of the company’s stock after acquiring an additional 168,334 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Procter & Gamble were worth $74,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PG. HighPoint Advisor Group LLC acquired a new position in Procter & Gamble in the fourth quarter worth $17,696,000. Bayesian Capital Management LP grew its holdings in Procter & Gamble by 43.0% during the 4th quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock worth $7,743,000 after acquiring an additional 15,900 shares during the last quarter. Steele Capital Management Inc. acquired a new stake in Procter & Gamble in the 1st quarter valued at about $204,000. Gilbert & Cook Inc. raised its stake in shares of Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock worth $2,523,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Mosley Wealth Management acquired a new position in shares of Procter & Gamble during the fourth quarter worth approximately $537,000. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares in the company, valued at $6,325,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 375,553 shares of company stock worth $63,829,141. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. TD Cowen assumed coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Barclays reduced their target price on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $173.77 on Tuesday. The company has a market capitalization of $410.12 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 3.84 and a beta of 0.41. The stock’s 50 day moving average is $170.40 and its 200-day moving average is $165.88. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94.

Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the prior year, the company posted $1.37 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is presently 65.69%.

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.