The Procter & Gamble Company (NYSE:PG) Stock Holdings Lifted by State of Michigan Retirement System

State of Michigan Retirement System increased its position in The Procter & Gamble Company (NYSE:PG) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 646,337 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Procter & Gamble comprises about 0.5% of State of Michigan Retirement System’s investment portfolio, making the stock its 29th biggest holding. State of Michigan Retirement System’s holdings in Procter & Gamble were worth $106,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Virginia VA increased its holdings in shares of Procter & Gamble by 10.4% in the 2nd quarter. Trust Co. of Virginia VA now owns 97,340 shares of the company’s stock valued at $16,053,000 after purchasing an additional 9,201 shares during the period. Callan Family Office LLC lifted its position in Procter & Gamble by 16.5% in the 2nd quarter. Callan Family Office LLC now owns 4,415 shares of the company’s stock worth $728,000 after buying an additional 624 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its stake in shares of Procter & Gamble by 1.5% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,525 shares of the company’s stock valued at $2,560,000 after buying an additional 235 shares during the period. Pegasus Asset Management Inc. grew its holdings in shares of Procter & Gamble by 0.4% during the 2nd quarter. Pegasus Asset Management Inc. now owns 31,671 shares of the company’s stock valued at $5,223,000 after acquiring an additional 117 shares in the last quarter. Finally, SlateStone Wealth LLC increased its stake in shares of Procter & Gamble by 2.6% in the second quarter. SlateStone Wealth LLC now owns 45,056 shares of the company’s stock worth $7,431,000 after acquiring an additional 1,141 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PG shares. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $173.95.

Procter & Gamble Price Performance

Shares of PG stock opened at $170.35 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $171.89. The firm has a market cap of $402.05 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 3.64 and a beta of 0.41. The stock has a 50-day moving average price of $167.35 and a 200 day moving average price of $163.77.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. Procter & Gamble’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insider Activity at Procter & Gamble

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,293 shares of company stock worth $40,331,085. 0.17% of the stock is owned by insiders.

Procter & Gamble Profile

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.