State of Michigan Retirement System Lowers Position in The Procter & Gamble Company (NYSE:PG)

State of Michigan Retirement System lowered its holdings in The Procter & Gamble Company (NYSE:PGFree Report) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 645,237 shares of the company’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Procter & Gamble were worth $94,553,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wyrmwood Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at about $29,000. Mendota Financial Group LLC raised its position in Procter & Gamble by 636.6% during the 4th quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after purchasing an additional 261 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble during the 2nd quarter valued at $50,000. CGC Financial Services LLC bought a new stake in Procter & Gamble during the 2nd quarter valued at $55,000. Finally, VitalStone Financial LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $60,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

NYSE:PG opened at $160.57 on Wednesday. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $163.14. The stock has a 50 day moving average of $159.25 and a two-hundred day moving average of $152.32. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The firm has a market cap of $377.82 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44.

Procter & Gamble (NYSE:PGGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.14. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.48 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. On average, analysts expect that The Procter & Gamble Company will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, January 19th were given a $0.9407 dividend. The ex-dividend date was Thursday, January 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.98%.

Insider Activity

In related news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the transaction, the insider now directly owns 11,886 shares in the company, valued at $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the transaction, the insider now directly owns 11,886 shares in the company, valued at $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shailesh Jejurikar sold 31,275 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $154.90, for a total value of $4,844,497.50. Following the completion of the transaction, the chief operating officer now owns 9,623 shares of the company’s stock, valued at $1,490,602.70. The disclosure for this sale can be found here. Insiders sold 279,063 shares of company stock worth $43,187,745 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Royal Bank of Canada boosted their target price on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 24th. Raymond James boosted their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Barclays boosted their price target on Procter & Gamble from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.41.

View Our Latest Analysis on Procter & Gamble

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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