Carmignac Gestion Slashes Stake in Procter & Gamble

Carmignac Gestion significantly reduced its stake in Procter & Gamble Company (The) during the first quarter, according to a recent Form 13F filing with the Securities and Exchange Commission. The firm decreased its holdings by 74.6% after selling 258,332 shares of PG stock.

As of the latest SEC filing, Carmignac Gestion owns 88,160 shares of Procter & Gamble Company (The), which is valued at approximately $12,739,000.

This is not an isolated incident as other institutional investors and hedge funds have also modified their holdings in Procter & Gamble. E Fund Management Hong Kong Co. Ltd., for instance, boosted its stake by 1,000% during the fourth quarter and now owns 165 shares of PG stock worth $25,000.

Procter & Gamble Company (The) has a market capitalization of $336.77 billion and a price-to-earnings ratio of 21.85. The company's quarterly earnings data was released on July 29th, which showed a profit of $1.43 per share, surpassing the consensus estimate of $1.41.