Meyer Handelman Co Lowers stake in Procter & Gamble Co (PG)

Procter & Gamble Co (PG) : Meyer Handelman Co reduced its stake in Procter & Gamble Co by 1.34% during the most recent quarter end. The investment management company now holds a total of 904,835 shares of Procter & Gamble Co which is valued at $73.7 Million after selling 12,300 shares in Procter & Gamble Co , the firm said in a disclosure report filed with the SEC on May 25, 2016.Procter & Gamble Co makes up approximately 3.33% of Meyer Handelman Co’s portfolio.

Other Hedge Funds, Including , 10-15 Associates reduced its stake in PG by selling 3,920 shares or 3.14% in the most recent quarter. The Hedge Fund company now holds 120,775 shares of PG which is valued at $9.8 Million. Procter & Gamble Co makes up approx 2.99% of 10-15 Associates’s portfolio.Rench Wealth Management reduced its stake in PG by selling 1,024 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 60,035 shares of PG which is valued at $4.9 Million. Procter & Gamble Co makes up approx 4.09% of Rench Wealth Management’s portfolio.First Interstate Bank reduced its stake in PG by selling 468 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 127,098 shares of PG which is valued at $10.3 Million. Procter & Gamble Co makes up approx 2.20% of First Interstate Bank’s portfolio.

Procter & Gamble Co opened for trading at $80.95 and hit $81.8 on the upside on Wednesday, eventually ending the session at $81.79, with a gain of 0.93% or 0.75 points. The heightened volatility saw the trading volume jump to 61,84,108 shares. Company has a market cap of $217,713 M.

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. 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 .Shares were Reiterated by B. Riley & Co. on Mar 30, 2016 to “Neutral” and Lowered the Price Target to $ 74 from a previous price target of $81 .

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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