Investment Management Corp of Ontario Has $21.14 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Investment Management Corp of Ontario grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 26.9% in the 3rd quarter, Holdings Channel reports. The firm owned 122,045 shares of the company’s stock after acquiring an additional 25,900 shares during the quarter. Investment Management Corp of Ontario’s holdings in Procter & Gamble were worth $21,138,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PG. Concurrent Investment Advisors LLC grew its stake in Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Radnor Capital Management LLC bought a new position in Procter & Gamble in the third quarter valued at approximately $5,705,000. Welch Group LLC increased its stake in shares of Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares during the last quarter. Swiss National Bank grew its position in shares of Procter & Gamble by 0.6% in the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after buying an additional 39,000 shares during the last quarter. Finally, Curi RMB Capital LLC boosted its holdings in Procter & Gamble by 20.3% in the third quarter. Curi RMB Capital LLC now owns 21,655 shares of the company’s stock worth $3,751,000 after acquiring an additional 3,652 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PG shares. DA Davidson raised Procter & Gamble from a “neutral” rating to a “buy” rating and raised their price target for the stock from $160.00 to $209.00 in a report on Monday, November 25th. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Stock Down 0.4 %

Shares of NYSE:PG opened at $179.00 on Tuesday. The stock has a 50 day moving average price of $170.48 and a 200-day moving average price of $169.11. 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 Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $180.43. The firm has a market capitalization of $421.55 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.86 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 earnings per share. As a group, equities research analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.25%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,080 shares of company stock valued at $14,629,038 over the last quarter. Company insiders own 0.18% of the company’s stock.

About Procter & Gamble

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.