Wellington Management Group LLP Sells 2,838,467 Shares of The Procter & Gamble Company (NYSE:PG)

Wellington Management Group LLP reduced its position in The Procter & Gamble Company (NYSE:PG) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,228,175 shares of the company’s stock after selling 2,838,467 shares during the period. Procter & Gamble accounts for 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 21st biggest position. Wellington Management Group LLP’s holdings in Procter & Gamble were worth $4,061,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Lakeridge Wealth Management LLC raised its position in shares of Procter & Gamble by 0.6% in the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock worth $1,812,000 after acquiring an additional 60 shares in the last quarter. Colton Groome Financial Advisors LLC raised its holdings in Procter & Gamble by 3.2% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company’s stock worth $334,000 after purchasing an additional 62 shares in the last quarter. Tevis Investment Management lifted its position in shares of Procter & Gamble by 0.6% during the fourth quarter. Tevis Investment Management now owns 11,633 shares of the company’s stock valued at $1,950,000 after buying an additional 65 shares during the last quarter. Dakota Community Bank & Trust NA boosted its holdings in shares of Procter & Gamble by 3.3% in the 4th quarter. Dakota Community Bank & Trust NA now owns 2,078 shares of the company’s stock valued at $348,000 after buying an additional 66 shares in the last quarter. Finally, Alhambra Investment Management LLC raised its stake in shares of Procter & Gamble by 1.2% during the 4th quarter. Alhambra Investment Management LLC now owns 5,785 shares of the company’s stock worth $970,000 after acquiring an additional 66 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Price Performance

NYSE:PG opened at $167.94 on Monday. The company has a 50 day moving average price of $168.60 and a 200-day moving average price of $169.31. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The firm has a market cap of $393.80 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share 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 business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

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

Insider Activity

In related news, 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 value of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PG shares. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Piper Sandler reduced their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.82.

Procter & Gamble 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.