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Insider Unloads The Procter & Gamble Company (NYSE:PG)

Boston, MA 08/26/2014 (wallstreetpr) – The Procter & Gamble Company (NYSE:PG), a $226 billion consumer packaged goods company, saw one of its insiders alter their position in the company in a transaction that was completed Monday this week. The company’s president of North America, Melanie Healey, sold more than 14,840 shares in the open market transaction at an average price of $83.56. The transaction generated more than $1.2 million in proceeds. Even after the sale, Healey still maintains a significant stake in the company, directly holding more than 34,450 shares with an estimated value of $2.9 million.

Shares of Procter & Gamble Company (NYSE:PG) are up more than 4.4% over the past 12 months.

Mixed quarterly results

The company delivered mixed performance results in the most recent quarter, beating earnings estimate but missing on revenue projection. It reported earnings of $0.95 a share, ahead of the consensus estimate of $0.91 a share. Revenue was $20.16 billion, behind 420.48 billion that was estimated for the quarter. The revenue even declined 7% from the same quarter a year earlier.

Brand slimming

With the eminent top line trouble, Procter & Gamble Company (NYSE:PG) announced plans to streamline its operations by unloading some products, mainly those that have failed to live up to their expectations. The company plans to eliminate up to 100 brands from its portfolio, and it has reportedly tapped Goldman Sachs Group Inc (NYSE:GS) and other experts to help with the product divestment plans. According to media sources, some of the products that could go in the purge include Braun and Duracell. However, the company has not provided official details of the targeted brands.

Analysts are guarded on their recommendation of Procter & Gamble Company (NYSE:PG). A number of rating firms have downgraded the stock while some have reiterated their recommendations in the recent past. As such, the stock bears a consensus “hold” rating a target price of $86.57. The highest recent price target on the stock is $94, from Citigroup Inc. (NYSE:C), which also has a “buy” recommendation on the stock.

Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.

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