Bank of New York Mellon Corp Has $3.21 Billion Stock Position in Procter & Gamble Company (The) (NYSE:PG)

Bank of New York Mellon Corp reduced its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,863,352 shares of the company’s stock after selling 409,717 shares during the quarter. Procter & Gamble comprises about 0.6% of Bank of New York Mellon Corp’s portfolio, making the stock its 21st biggest position. Bank of New York Mellon Corp’s holdings in Procter & Gamble were worth $3,214,692,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $31,000. Hoey Investments Inc. increased its position in shares of Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at $34,000. Finally, 10Elms LLP purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $160.72 on Friday. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The business has a 50-day simple moving average of $162.10 and a 200 day simple moving average of $165.30. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The stock has a market cap of $376.82 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.58 and a beta of 0.40.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Procter & Gamble’s revenue was down 2.1% on a year-over-year basis. On average, research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s dividend payout ratio is presently 67.14%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer owned 51,965 shares of the company’s stock, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares of the company’s stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on PG shares. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an “overweight” rating in a report on Friday, April 25th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price for the company. in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.45.

About Procter & Gamble

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.