Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,103,655 shares of the company’s stock after purchasing an additional 83,483 shares during the quarter. Procter & Gamble makes up 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 21st largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Procter & Gamble were worth $182,015,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Advantage Trust Co bought a new stake in Procter & Gamble during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in Procter & Gamble in the fourth quarter worth $31,000. Ruedi Wealth Management Inc. increased its stake in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in Procter & Gamble during the fourth quarter valued at about $33,000. Finally, POM Investment Strategies LLC bought a new stake in Procter & Gamble during the second quarter worth about $34,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.6 %

NYSE:PG traded up $0.97 during trading hours on Thursday, hitting $170.03. The company had a trading volume of 4,323,705 shares, compared to its average volume of 6,568,387. The stock has a 50-day moving average price of $167.37 and a 200 day moving average price of $163.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $401.29 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $171.89.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.69%.

Analyst Ratings Changes

A number of research firms recently weighed in on PG. BNP Paribas assumed coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $175.79.

Insider Buying and Selling

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The sale was disclosed in a legal filing 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 transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is owned by corporate insiders.

About Procter & Gamble

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.