State of Michigan Retirement System lessened its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,737 shares of the company's stock after selling 3,000 shares during the period. Procter & Gamble accounts for approximately 0.6% of State of Michigan Retirement System's portfolio, making the stock its 23rd largest position. State of Michigan Retirement System's holdings in Procter & Gamble were worth $112,262,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC increased its position in Procter & Gamble by 1.0% in the 1st quarter. Cerity Partners LLC now owns 6,501,095 shares of the company's stock valued at $1,107,917,000 after acquiring an additional 61,977 shares during the period. Phillips Financial Management LLC grew its stake in shares of Procter & Gamble by 10.8% in the 1st quarter. Phillips Financial Management LLC now owns 1,667 shares of the company's stock valued at $284,000 after purchasing an additional 162 shares during the last quarter. DMC Group LLC increased its holdings in shares of Procter & Gamble by 11.8% in the first quarter. DMC Group LLC now owns 7,136 shares of the company's stock valued at $1,216,000 after purchasing an additional 751 shares during the period. Vision Capital Management Inc. raised its stake in shares of Procter & Gamble by 89.4% during the first quarter. Vision Capital Management Inc. now owns 2,819 shares of the company's stock worth $480,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Telos Capital Management Inc. lifted its holdings in shares of Procter & Gamble by 1.3% during the first quarter. Telos Capital Management Inc. now owns 112,749 shares of the company's stock worth $19,215,000 after purchasing an additional 1,486 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.
Procter & Gamble Price Performance
NYSE PG traded down $1.54 during trading hours on Friday, reaching $156.95. The company's stock had a trading volume of 8,051,886 shares, compared to its average volume of 7,596,124. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The company's 50-day moving average is $161.84 and its two-hundred day moving average is $165.03. Procter & Gamble Company has a fifty-two week low of $155.95 and a fifty-two week high of $180.43. The stock has a market cap of $367.98 billion, a PE ratio of 24.91, a PEG ratio of 4.51 and a beta of 0.40.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is presently 67.14%.
Insider Buying and Selling at Procter & Gamble
In other news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer directly owned 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on PG shares. Erste Group Bank cut shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Citigroup lowered their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $178.45.
View Our Latest Analysis on Procter & Gamble
Procter & Gamble Profile
(
Free Report)
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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