Cullen Frost Bankers Inc. Buys 9,444 Shares of Procter & Gamble Co (NYSE:PG)

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Cullen Frost Bankers Inc. raised its stake in Procter & Gamble Co (NYSE:PG) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,744 shares of the company’s stock after purchasing an additional 9,444 shares during the period. Cullen Frost Bankers Inc.’s holdings in Procter & Gamble were worth $22,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PG. White Lighthouse Investment Management Inc. boosted its holdings in Procter & Gamble by 6.5% in the 4th quarter. White Lighthouse Investment Management Inc. now owns 5,132 shares of the company’s stock worth $472,000 after acquiring an additional 311 shares during the period. Landmark Bank grew its stake in shares of Procter & Gamble by 9.1% during the fourth quarter. Landmark Bank now owns 28,315 shares of the company’s stock valued at $2,603,000 after acquiring an additional 2,368 shares in the last quarter. Dowling & Yahnke LLC increased its holdings in shares of Procter & Gamble by 1.7% in the 4th quarter. Dowling & Yahnke LLC now owns 72,992 shares of the company’s stock valued at $6,898,000 after acquiring an additional 1,235 shares during the last quarter. Andesa Financial Management Inc. bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $740,000. Finally, Sumitomo Life Insurance Co. raised its position in shares of Procter & Gamble by 2.4% during the 4th quarter. Sumitomo Life Insurance Co. now owns 71,725 shares of the company’s stock worth $6,593,000 after purchasing an additional 1,703 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Shares of NYSE:PG opened at $121.27 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44. Procter & Gamble Co has a 1 year low of $78.49 and a 1 year high of $123.43. The business has a fifty day simple moving average of $118.41 and a 200 day simple moving average of $109.40. The firm has a market cap of $305.75 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.55 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.04. The business had revenue of $17.09 billion during the quarter, compared to analyst estimates of $16.86 billion. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. On average, sell-side analysts forecast that Procter & Gamble Co will post 4.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a $0.7459 dividend. This represents a $2.98 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, July 18th. Procter & Gamble’s payout ratio is presently 65.93%.

A number of brokerages recently commented on PG. Stifel Nicolaus set a $117.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank upped their price objective on shares of Procter & Gamble from $106.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, June 17th. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 target price on shares of Procter & Gamble in a research report on Tuesday, July 30th. Scotiabank reiterated a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. Finally, UBS Group set a $122.00 target price on shares of Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $108.15.

In related news, Vice Chairman Jon R. Moeller sold 141,575 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $118.05, for a total transaction of $16,712,928.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carolyn M. Tastad sold 10,662 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $118.00, for a total transaction of $1,258,116.00. Following the transaction, the insider now owns 61,225 shares of the company’s stock, valued at $7,224,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,674 shares of company stock valued at $53,197,461. 1.75% of the stock is owned by company insiders.

About Procter & Gamble

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.

See Also: Beta

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

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