The Procter & Gamble Company (NYSE:PG) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 374,730 shares of the company’s stock after selling 1,884 shares during the period. Procter & Gamble makes up about 1.2% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 11th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Procter & Gamble were worth $64,903,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC increased its position in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after buying an additional 4,035 shares in the last quarter. Welch Group LLC boosted its holdings in shares of Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Procter & Gamble in the third quarter valued at $5,705,000. GAMMA Investing LLC lifted its position in Procter & Gamble by 67.2% during the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after buying an additional 10,777 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its position in shares of Procter & Gamble by 15.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock worth $73,925,000 after acquiring an additional 55,620 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,771 shares of company stock worth $65,610,975. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Stock Performance

PG stock traded up $1.50 during trading on Thursday, reaching $162.55. 531,175 shares of the company’s stock were exchanged, compared to its average volume of 6,622,975. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The firm has a market cap of $382.81 billion, a PE ratio of 27.76, a P/E/G ratio of 3.57 and a beta of 0.42. The company’s fifty day moving average price is $171.29 and its 200-day moving average price is $168.13. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the prior year, the firm posted $1.83 EPS. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PG shares. JPMorgan Chase & Co. raised their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. TD Cowen initiated coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.00.

About Procter & Gamble

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.