Procter & Gamble Company (The) $PG Stock Position Decreased by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Procter & Gamble by 7.7%, selling 66,914 shares and holding a total of 799,851 shares, currently valued at approximately $136.3 million.
• Procter & Gamble's latest earnings report showed a 1.7% year-over-year revenue increase and an earnings per share (EPS) of $1.48, surpassing analysts' expectations of $1.42.
• The company announced a quarterly dividend of $1.0568, with a yield of 2.7%, reflecting a payout ratio of approximately 64.98%.

State of New Jersey Common Pension Fund D cut its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,851 shares of the company's stock after selling 66,914 shares during the quarter. Procter & Gamble accounts for about 0.6% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 22nd largest holding. State of New Jersey Common Pension Fund D's holdings in Procter & Gamble were worth $136,311,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new stake in Procter & Gamble in the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter worth $31,000. 10Elms LLP acquired a new stake in Procter & Gamble in the fourth quarter worth $34,000. Mizuho Securities Co. Ltd. increased its position in Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after buying an additional 170 shares during the period. Finally, Sunbeam Capital Management LLC acquired a new stake in Procter & Gamble in the fourth quarter worth $34,000. 65.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PG shares. Bank of America dropped their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company dropped their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Truist Financial dropped their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Raymond James Financial dropped their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $175.94.

Procter & Gamble Trading Up 0.4%

Shares of NYSE:PG traded up $0.56 during midday trading on Friday, reaching $154.30. The company had a trading volume of 7,120,993 shares, compared to its average volume of 7,395,259. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43. The firm has a market cap of $361.43 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37. The company has a fifty day simple moving average of $157.19 and a two-hundred day simple moving average of $163.24.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. During the same quarter last year, the company posted $1.40 EPS. Procter & Gamble's revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a dividend of $1.0568 per share. The ex-dividend date was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) is presently 64.82%.

Procter & Gamble Profile

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.