Connor Clark & Lunn Investment Management Ltd. Sells 507,914 Shares of The Procter & Gamble Company (NYSE:PG)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 50.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 497,400 shares of the company’s stock after selling 507,914 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Procter & Gamble were worth $86,150,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Acorn Creek Capital LLC increased its stake in shares of Procter & Gamble by 2.8% in the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after buying an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. raised its stake in shares of Procter & Gamble by 1.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after acquiring an additional 59 shares during the last quarter. Hudson Value Partners LLC boosted its holdings in shares of Procter & Gamble by 4.1% during the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after purchasing an additional 60 shares during the period. Traveka Wealth LLC increased its holdings in Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock valued at $616,000 after purchasing an additional 60 shares during the period. Finally, Fiduciary Alliance LLC increased its holdings in Procter & Gamble by 2.8% during the 2nd quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction on 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 sale, the chief executive officer now directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. The trade was a 12.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,727 shares of company stock valued at $46,014,037. 0.18% of the stock is owned by company insiders.

Procter & Gamble Stock Up 0.0 %

Shares of Procter & Gamble stock opened at $170.77 on Wednesday. The stock has a market capitalization of $402.17 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 3.67 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 company has a 50-day simple moving average of $170.07 and a two-hundred day simple moving average of $168.49. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94.

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

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PG. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI lifted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Piper Sandler started coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $177.00.

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.