Tortoise Investment Management Lowers stake in Procter & Gamble Co (PG)

Procter & Gamble Co (PG) : Tortoise Investment Management reduced its stake in Procter & Gamble Co by 7.25% during the most recent quarter end. The investment management company now holds a total of 3,877 shares of Procter & Gamble Co which is valued at $333,306 after selling 303 shares in Procter & Gamble Co , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Procter & Gamble Co makes up approximately 0.11% of Tortoise Investment Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities boosted its stake in PG in the latest quarter, The investment management firm added 200,998 additional shares and now holds a total of 442,897 shares of Procter & Gamble Co which is valued at $38,075,855. Procter & Gamble Co makes up approx 0.29% of Sg Americas Securities’s portfolio.Northpointe Capital reduced its stake in PG by selling 7,850 shares or 10.52% in the most recent quarter. The Hedge Fund company now holds 66,786 shares of PG which is valued at $5,640,746. Procter & Gamble Co makes up approx 0.64% of Northpointe Capital’s portfolio.Jfs Wealth Advisors reduced its stake in PG by selling 64 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 26,447 shares of PG which is valued at $2,233,714. Procter & Gamble Co makes up approx 0.60% of Jfs Wealth Advisors’s portfolio.Advocacy Wealth Management Services reduced its stake in PG by selling 975 shares or 40.64% in the most recent quarter. The Hedge Fund company now holds 1,424 shares of PG which is valued at $122,364. Procter & Gamble Co makes up approx 0.06% of Advocacy Wealth Management Services’s portfolio.

Procter & Gamble Co closed down -0.02 points or -0.02% at $85.76 with 53,88,194 shares getting traded on Monday. Post opening the session at $85.61, the shares hit an intraday low of $85.13 and an intraday high of $85.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Procter & Gamble Co reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.74. The company had revenue of $16102.00 million for the quarter, compared to analysts expectations of $15831.63 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Procter & Gamble Co. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 92 from a previous price target of $85 .Jefferies Initiated Procter & Gamble Co on Jun 15, 2016 to “Buy”, Price Target of the shares are set at $95.

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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