Procter & Gamble Co (PG) Shares Bought by First Merchants Corp

First Merchants Corp grew its position in shares of Procter & Gamble Co (NYSE:PG) by 75.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,826 shares of the company’s stock after purchasing an additional 32,099 shares during the period. Procter & Gamble comprises about 1.2% of First Merchants Corp’s holdings, making the stock its 19th largest holding. First Merchants Corp’s holdings in Procter & Gamble were worth $6,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PG. Independent Portfolio Consultants Inc. lifted its stake in shares of Procter & Gamble by 3.0% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 8,635 shares of the company’s stock valued at $753,000 after acquiring an additional 248 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Procter & Gamble by 0.7% in the 2nd quarter. First PREMIER Bank now owns 55,800 shares of the company’s stock valued at $4,863,000 after acquiring an additional 382 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of Procter & Gamble by 1.8% in the 2nd quarter. West Oak Capital LLC now owns 19,286 shares of the company’s stock valued at $1,681,000 after acquiring an additional 345 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its stake in shares of Procter & Gamble by 23.9% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 44,080 shares of the company’s stock valued at $3,842,000 after acquiring an additional 8,493 shares during the last quarter. Finally, American National Bank lifted its stake in shares of Procter & Gamble by 15.6% in the 2nd quarter. American National Bank now owns 3,693 shares of the company’s stock valued at $321,000 after acquiring an additional 497 shares during the last quarter. 59.57% of the stock is owned by hedge funds and other institutional investors.

PG has been the subject of a number of recent research reports. Goldman Sachs Group reissued a “sell” rating on shares of Procter & Gamble in a research note on Wednesday, October 4th. Jefferies Group reissued a “buy” rating and issued a $104.00 target price on shares of Procter & Gamble in a research note on Tuesday, October 10th. Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Stifel Nicolaus set a $87.00 price target on Procter & Gamble and gave the company a “hold” rating in a research report on Friday, October 20th. Finally, Vetr raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $93.02 price target for the company in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Procter & Gamble currently has a consensus rating of “Hold” and an average price target of $88.51.

In related news, insider Ioannis Skoufalos sold 2,880 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $88.75, for a total value of $255,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider R. Alexandra Keith sold 1,298 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total value of $115,664.78. Following the completion of the sale, the insider now owns 20,135 shares in the company, valued at approximately $1,794,229.85. The disclosure for this sale can be found here. Insiders sold a total of 18,719 shares of company stock worth $1,661,544 in the last 90 days. 0.35% of the stock is currently owned by company insiders.

Procter & Gamble Co (NYSE:PG) traded up $0.89 during mid-day trading on Friday, hitting $91.07. The company’s stock had a trading volume of 9,171,480 shares, compared to its average volume of 5,140,959. Procter & Gamble Co has a 1 year low of $85.42 and a 1 year high of $94.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.75. The stock has a market cap of $231,040.77, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.91 and a beta of 0.67.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The firm had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.69 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. research analysts forecast that Procter & Gamble Co will post 4.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be paid a $0.6896 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $2.76 annualized dividend and a dividend yield of 3.03%. Procter & Gamble’s payout ratio is currently 48.51%.

COPYRIGHT VIOLATION NOTICE: This article was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.truebluetribune.com/2018/01/21/first-merchants-corp-boosts-position-in-procter-gamble-co-pg.html.

Procter & Gamble Profile

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply