CFS Investment Advisory Services LLC Sells 29,213 Shares of The Procter & Gamble Company (NYSE:PG)

CFS Investment Advisory Services LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,831 shares of the company’s stock after selling 29,213 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Procter & Gamble were worth $4,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the second quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in shares of Procter & Gamble in the second quarter worth $29,000. POM Investment Strategies LLC bought a new position in Procter & Gamble in the second quarter valued at about $34,000. Quest Partners LLC purchased a new position in Procter & Gamble in the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $44,000. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $172.68 on Friday. The company’s 50-day moving average is $170.00 and its 200 day moving average is $168.54. The firm has a market capitalization of $406.67 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 3.69 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 EPS. Research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.33%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jon R. Moeller sold 87,979 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.40, for a total value of $14,991,621.60. Following the completion of the sale, the chief executive officer now directly owns 300,777 shares in the company, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,693 shares of company stock worth $27,311,345 over the last three months. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.