Clearbridge Investments LLC Sells 323,713 Shares of The Procter & Gamble Company (NYSE:PG)

Clearbridge Investments LLC lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,361,809 shares of the company’s stock after selling 323,713 shares during the period. Clearbridge Investments LLC’s holdings in Procter & Gamble were worth $563,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PG. Norges Bank bought a new position in Procter & Gamble during the 4th quarter worth $5,244,463,000. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth $1,010,685,000. Geode Capital Management LLC raised its stake in Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after purchasing an additional 2,973,757 shares during the period. Finally, Franklin Resources Inc. grew its stake in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

Shares of PG stock opened at $167.94 on Friday. The stock has a 50-day moving average of $168.60 and a 200-day moving average of $169.35. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $393.80 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is 64.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PG. Wells Fargo & Company upped their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus raised their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $181.82.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.