Cypress Asset Management Inctx Lowers stake in Procter & Gamble Co (PG)

Procter & Gamble Co (PG) : Cypress Asset Management Inctx reduced its stake in Procter & Gamble Co by 2.17% during the most recent quarter end. The investment management company now holds a total of 127,580 shares of Procter & Gamble Co which is valued at $10,885,126 after selling 2,835 shares in Procter & Gamble Co , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Procter & Gamble Co makes up approximately 2.12% of Cypress Asset Management Inctx’s portfolio.

Other Hedge Funds, Including , Dearborn Partners boosted its stake in PG in the latest quarter, The investment management firm added 74 additional shares and now holds a total of 89,098 shares of Procter & Gamble Co which is valued at $7,601,841. Procter & Gamble Co makes up approx 0.65% of Dearborn Partners’s portfolio.Grassi Investment Management reduced its stake in PG by selling 300 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 184,974 shares of PG which is valued at $15,887,417. Procter & Gamble Co makes up approx 2.94% of Grassi Investment Management’s portfolio.Macnealy Hoover Investment Management Inc reduced its stake in PG by selling 395 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 52,929 shares of PG which is valued at $4,539,720. Procter & Gamble Co makes up approx 0.86% of Macnealy Hoover Investment Management Inc’s portfolio.

Procter & Gamble Co closed down -0.1805 points or -0.21% at $85.32 with 62,89,008 shares getting traded on Wednesday. Post opening the session at $85.38, the shares hit an intraday low of $85.13 and an intraday high of $85.73 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Procter & Gamble Co reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.82. The company had revenue of $15755.00 million for the quarter, compared to analysts expectations of $15809.32 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Procter & Gamble Co. Jefferies Initiated Procter & Gamble Co on Jun 15, 2016 to “Buy”, Price Target of the shares are set at $95.Shares were Reiterated by UBS on Apr 27, 2016 to “Neutral” and Lowered the Price Target to $ 85 from a previous price target of $88 .

The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming which includes blades razors and electronic hair removal devices such as electric razors and epilators; Health Care which includes oral care and personal health care products.; Fabric Care and Home Care which consists of a range of fabric care products home care products and batteries and Baby Feminine and Family Care which offers diapers pants baby wipe Bounty paper towel and Charmin toilet paper brands. The Company’s products are sold in over 180 countries and territories. P&G’s customers include mass merchandisers grocery stores membership club stores drug stores department stores salons distributors e-commerce and stores.

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