Skye Global Management LP Trims Position in The Procter & Gamble Company (NYSE:PG)

Skye Global Management LP reduced its position in The Procter & Gamble Company (NYSE:PG) by 28.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,000 shares of the company’s stock after selling 42,000 shares during the quarter. Procter & Gamble comprises about 0.5% of Skye Global Management LP’s holdings, making the stock its 21st biggest holding. Skye Global Management LP’s holdings in Procter & Gamble were worth $18,706,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the second quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in Procter & Gamble in the third quarter valued at $33,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble during the second quarter valued at about $34,000. Finally, Quest Partners LLC bought a new stake in Procter & Gamble during the second quarter worth about $36,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jon R. Moeller sold 7,007 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $1,202,751.55. Following the transaction, the chief executive officer now directly owns 269,172 shares of the company’s stock, valued at approximately $46,203,373.80. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,233 shares of company stock valued at $6,024,234. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PG shares. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. 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 report on Thursday, August 29th. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a research report on Monday, September 30th. Wells Fargo & Company boosted their target price on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Evercore ISI upped their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Stock Up 0.0 %

PG stock opened at $179.36 on Friday. The company has a market cap of $422.40 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 3.86 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The business’s 50-day moving average is $170.37 and its two-hundred day moving average is $168.98. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $180.43.

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 the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the business posted $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.24%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

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.