State of Michigan Retirement System Sells 3,000 Shares of Procter & Gamble Company (The) (NYSE:PG)

State of Michigan Retirement System lowered its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,737 shares of the company's stock after selling 3,000 shares during the quarter. Procter & Gamble comprises 0.6% of State of Michigan Retirement System's portfolio, making the stock its 23rd largest holding. State of Michigan Retirement System's holdings in Procter & Gamble were worth $112,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PG. Unique Wealth LLC raised its stake in Procter & Gamble by 2.9% during the 1st quarter. Unique Wealth LLC now owns 2,141 shares of the company's stock worth $365,000 after acquiring an additional 61 shares during the period. Stableford Capital II LLC raised its stake in Procter & Gamble by 1.1% during the 1st quarter. Stableford Capital II LLC now owns 5,817 shares of the company's stock worth $993,000 after acquiring an additional 61 shares during the period. Bernard Wealth Management Corp. raised its stake in Procter & Gamble by 20.2% during the 1st quarter. Bernard Wealth Management Corp. now owns 375 shares of the company's stock worth $64,000 after acquiring an additional 63 shares during the period. Kolinsky Wealth Management LLC raised its stake in Procter & Gamble by 1.1% during the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock worth $962,000 after acquiring an additional 64 shares during the period. Finally, Retirement Planning Group LLC raised its stake in Procter & Gamble by 1.4% during the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company's stock worth $789,000 after acquiring an additional 64 shares during the period. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Up 0.6%

Shares of PG opened at $158.46 on Friday. The company has a market cap of $371.52 billion, a PE ratio of 25.15, a P/E/G ratio of 4.48 and a beta of 0.40. The business has a fifty day moving average of $161.84 and a 200 day moving average of $165.03. Procter & Gamble Company has a 52-week low of $155.95 and a 52-week high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business's revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. On average, sell-side analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 67.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PG shares. Bank of America decreased their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Raymond James Financial decreased their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Evercore ISI reaffirmed an "outperform" rating and set a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Finally, Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective for the company. in a report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Insiders Place Their Bets

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer directly owned 51,965 shares of the company's stock, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

About Procter & Gamble

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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