Benedict Financial Advisors Inc. lessened its position in Procter & Gamble Company (The) (NYSE:PG) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,710 shares of the company’s stock after selling 1,101 shares during the quarter. Procter & Gamble makes up about 2.1% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 13th largest holding. Benedict Financial Advisors Inc.’s holdings in Procter & Gamble were worth $4,159,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. raised its stake in Procter & Gamble by 0.4% during the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after buying an additional 5 shares during the last quarter. Harding Loevner LP purchased a new position in Procter & Gamble during the second quarter valued at $119,000. Kohmann Bosshard Financial Services LLC purchased a new position in Procter & Gamble during the third quarter valued at $125,000. Blume Capital Management Inc. raised its stake in Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after buying an additional 300 shares during the last quarter. Finally, Winfield Associates Inc. raised its stake in Procter & Gamble by 0.7% during the second quarter. Winfield Associates Inc. now owns 2,260 shares of the company’s stock valued at $197,000 after buying an additional 15 shares during the last quarter. Institutional investors own 59.56% of the company’s stock.
In other Procter & Gamble news, insider R. Alexandra Keith sold 1,298 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total transaction of $115,664.78. Following the completion of the sale, the insider now owns 20,135 shares of the company’s stock, valued at $1,794,229.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marylynn Fergusonmchugh sold 2,856 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $92.98, for a total value of $265,550.88. The disclosure for this sale can be found here. Insiders sold 21,575 shares of company stock valued at $1,927,095 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 20th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The company had revenue of $16.65 billion during the quarter, compared to analyst estimates of $16.69 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Procter & Gamble’s revenue was up .8% compared to the same quarter last year. analysts forecast that Procter & Gamble Company will post 4.18 EPS for the current fiscal year.
A number of analysts have commented on PG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Procter & Gamble in a report on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $103.00 target price on shares of Procter & Gamble in a report on Thursday, September 7th. Macquarie started coverage on Procter & Gamble in a report on Thursday, September 14th. They issued an “outperform” rating and a $102.00 target price for the company. Vetr raised Procter & Gamble from a “sell” rating to a “hold” rating and set a $93.02 target price for the company in a report on Friday, September 15th. Finally, Bank of America lifted their target price on Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Procter & Gamble has an average rating of “Hold” and an average price target of $88.57.
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Procter & Gamble Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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