State of Michigan Retirement System Has $97.61 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 11th, 2023

State of Michigan Retirement System trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 644,037 shares of the company’s stock after selling 2,700 shares during the period. Procter & Gamble accounts for about 0.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 21st biggest holding. State of Michigan Retirement System’s holdings in Procter & Gamble were worth $97,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EWG Elevate Inc. bought a new position in shares of Procter & Gamble in the 4th quarter valued at $26,000. Legend Financial Advisors Inc. bought a new position in Procter & Gamble in the 3rd quarter worth about $30,000. Bourgeon Capital Management LLC increased its holdings in shares of Procter & Gamble by 39.9% in the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after buying an additional 71 shares during the last quarter. Belmont Capital LLC lifted its position in Procter & Gamble by 40.0% in the third quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after purchasing an additional 110 shares during the last quarter. Finally, Align Wealth Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter worth approximately $50,000. 62.13% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Down 0.8 %

NYSE:PG opened at $150.96 on Tuesday. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90. The stock’s fifty day moving average is $142.33 and its two-hundred day moving average is $141.78. The stock has a market capitalization of $356.14 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 4.25 and a beta of 0.41. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG – Get Rating) last released its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the business earned $1.66 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that The Procter & Gamble Company will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

PG has been the topic of a number of research reports. StockNews.com assumed coverage on Procter & Gamble in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group boosted their target price on Procter & Gamble from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. Citigroup began coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Barclays decreased their price objective on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 435 shares of Procter & Gamble stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $141.82, for a total transaction of $61,691.70. Following the completion of the sale, the insider now directly owns 10,840 shares in the company, valued at $1,537,328.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Procter & Gamble news, CEO Jon R. Moeller sold 2,151 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the sale, the chief executive officer now directly owns 226,748 shares in the company, valued at approximately $31,141,570.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 435 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the transaction, the insider now directly owns 10,840 shares of the company’s stock, valued at approximately $1,537,328.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $656,511 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

About Procter & Gamble

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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