Franklin Street Advisors Inc. NC Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Franklin Street Advisors Inc. NC decreased its position in The Procter & Gamble Company (NYSE:PG) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,631 shares of the company’s stock after selling 897 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Procter & Gamble were worth $10,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble during the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Procter & Gamble during the 2nd quarter valued at approximately $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG stock traded down $2.84 during midday trading on Friday, hitting $159.26. 2,729,692 shares of the stock traded hands, compared to its average volume of 5,898,862. The stock’s fifty day simple moving average is $169.77 and its 200-day simple moving average is $169.64. The firm has a market cap of $375.06 billion, a P/E ratio of 27.46, a PEG ratio of 3.70 and a beta of 0.45. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

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

Wall Street Analyst Weigh In

Several research firms have commented on PG. Wells Fargo & Company dropped their price objective on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley raised their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.75.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock worth $13,317,460 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Company 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.