Garland Capital Management Inc. Reduces Stake in The Procter & Gamble Company (NYSE:PG)

Garland Capital Management Inc. trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,616 shares of the company’s stock after selling 3,485 shares during the period. Procter & Gamble comprises about 4.6% of Garland Capital Management Inc.’s portfolio, making the stock its 6th largest position. Garland Capital Management Inc.’s holdings in Procter & Gamble were worth $5,636,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. ZEGA Investments LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at about $769,000. Millstone Evans Group LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at about $1,211,000. Wayfinding Financial LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at about $1,447,000. Independent Solutions Wealth Management LLC lifted its position in shares of Procter & Gamble by 0.7% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 10,256 shares of the company’s stock valued at $1,719,000 after buying an additional 71 shares during the last quarter. Finally, Kiker Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at about $306,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction on 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 sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. The trade was a 61.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is owned by company insiders.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $166.60 on Friday. The stock has a market capitalization of $390.66 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The firm’s 50 day simple moving average is $167.97 and its 200-day simple moving average is $169.72. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. Analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.42%. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Wall Street Analyst Weigh In

Several research firms have commented on PG. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler decreased their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Barclays increased their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.47.

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.