Cullen Frost Bankers Inc. lifted its position in shares of Procter & Gamble Co (NYSE:PG) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,820 shares of the company’s stock after acquiring an additional 28,589 shares during the quarter. Procter & Gamble makes up approximately 1.0% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 25th biggest position. Cullen Frost Bankers Inc.’s holdings in Procter & Gamble were worth $36,088,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New England Investment & Retirement Group Inc. acquired a new position in Procter & Gamble during the 1st quarter worth about $28,000. Magellan Asset Management Ltd bought a new position in shares of Procter & Gamble in the 1st quarter worth about $29,000. Costello Asset Management INC bought a new position in shares of Procter & Gamble in the 2nd quarter worth about $35,000. Barnett & Company Inc. raised its position in shares of Procter & Gamble by 23.4% in the 2nd quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock worth $54,000 after acquiring an additional 86 shares in the last quarter. Finally, Lion Street Advisors LLC bought a new position in shares of Procter & Gamble in the 1st quarter worth about $56,000. 63.33% of the stock is currently owned by institutional investors.
Shares of NYSE PG traded down $0.87 during midday trading on Wednesday, reaching $133.23. The company’s stock had a trading volume of 5,330,000 shares, compared to its average volume of 9,131,734. Procter & Gamble Co has a 12-month low of $94.34 and a 12-month high of $135.97. The firm has a 50 day moving average price of $124.44 and a 200-day moving average price of $119.51. The stock has a market capitalization of $331.22 billion, a P/E ratio of 26.86, a PEG ratio of 3.34 and a beta of 0.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.68.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 24th will be paid a $0.7907 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.37%. Procter & Gamble’s payout ratio is presently 61.72%.
In related news, Director Nelson Peltz sold 404,714 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $113.01, for a total value of $45,736,729.14. Following the transaction, the director now owns 3,891 shares in the company, valued at $439,721.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Valarie L. Sheppard sold 14,800 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $130.00, for a total value of $1,924,000.00. Following the completion of the transaction, the vice president now owns 39,929 shares in the company, valued at approximately $5,190,770. The disclosure for this sale can be found here. In the last quarter, insiders sold 670,952 shares of company stock worth $78,308,456. 1.75% of the stock is owned by company insiders.
A number of analysts recently commented on the company. Stifel Nicolaus boosted their target price on Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $120.00 target price on shares of Procter & Gamble in a research report on Tuesday, April 14th. Citigroup boosted their target price on Procter & Gamble from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley boosted their target price on Procter & Gamble from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, SunTrust Banks boosted their target price on Procter & Gamble from $115.00 to $120.00 in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Procter & Gamble presently has a consensus rating of “Buy” and a consensus target price of $133.67.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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