Procter & Gamble Co (NYSE:PG) Sees Significant Growth in Short Interest

Procter & Gamble Co (NYSE:PG) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 16,620,000 shares, an increase of 7.2% from the June 15th total of 15,500,000 shares. Based on an average trading volume of 9,720,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s stock are short sold.

In other Procter & Gamble news, Director Nelson Peltz sold 404,714 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $113.01, for a total transaction of $45,736,729.14. Following the transaction, the director now owns 3,891 shares in the company, valued at $439,721.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Deborah P. Majoras sold 12,589 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the transaction, the insider now owns 44,948 shares in the company, valued at approximately $5,514,220.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,963,114 shares of company stock worth $1,067,197,986. 1.75% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in PG. New England Investment & Retirement Group Inc. purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $28,000. Magellan Asset Management Ltd purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $29,000. Efficient Wealth Management LLC purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $39,000. grace capital purchased a new position in shares of Procter & Gamble during the fourth quarter worth approximately $44,000. Finally, Cox Capital Mgt LLC purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 63.44% of the company’s stock.

Several brokerages have recently commented on PG. Bank of America reiterated a “buy” rating and issued a $135.00 target price on shares of Procter & Gamble in a report on Saturday, April 18th. Jefferies Financial Group upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and lowered their target price for the company from $130.00 to $128.00 in a report on Monday, March 30th. Morgan Stanley increased their target price on shares of Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Citigroup increased their target price on shares of Procter & Gamble from $143.00 to $146.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Stifel Nicolaus raised their price objective on shares of Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $130.31.

Shares of PG stock traded up $0.70 during trading hours on Wednesday, reaching $122.89. The stock had a trading volume of 6,493,347 shares, compared to its average volume of 9,673,262. The stock’s fifty day simple moving average is $117.02 and its 200 day simple moving average is $119.03. The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Procter & Gamble has a 12 month low of $94.34 and a 12 month high of $128.09. The firm has a market capitalization of $301.11 billion, a PE ratio of 69.43, a PEG ratio of 3.24 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 17th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The company had revenue of $17.21 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same period last year, the business earned $1.06 earnings per share. Procter & Gamble’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Procter & Gamble will post 4.96 EPS for the current fiscal year.

Procter & Gamble Company Profile

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.

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