New York State Common Retirement Fund increased its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,437,911 shares of the company’s stock after purchasing an additional 11,901 shares during the period. Procter & Gamble accounts for 0.9% of New York State Common Retirement Fund’s portfolio, making the stock its 11th biggest position. New York State Common Retirement Fund owned approximately 0.19% of Procter & Gamble worth $672,610,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares during the last quarter. BlackRock Inc. increased its position in Procter & Gamble by 1.1% during the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after buying an additional 1,811,085 shares in the last quarter. State Street Corp increased its position in Procter & Gamble by 0.8% during the 3rd quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after buying an additional 797,652 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Procter & Gamble by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,938,327 shares of the company’s stock valued at $2,435,377,000 after buying an additional 228,272 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Procter & Gamble by 3.9% during the 3rd quarter. California Public Employees Retirement System now owns 9,261,714 shares of the company’s stock valued at $1,169,291,000 after buying an additional 344,629 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on PG. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $155.00 in a research report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $156.00 to $160.00 in a research report on Monday. Barclays reduced their target price on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Wells Fargo & Company reduced their target price on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a report on Friday, January 20th. Finally, Citigroup assumed coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 target price for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.58 by $0.01. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, analysts expect that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be given a $0.9407 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 20th. Procter & Gamble’s payout ratio is currently 64.04%.
Insider Buying and Selling
In related news, CEO Jon R. Moeller sold 2,151 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the sale, the chief executive officer now directly owns 226,748 shares in the company, valued at $31,141,570.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jon R. Moeller sold 2,151 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the sale, the chief executive officer now directly owns 226,748 shares in the company, valued at $31,141,570.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andre Schulten sold 1,311 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $180,052.74. Following the completion of the sale, the chief financial officer now owns 35,142 shares in the company, valued at $4,826,402.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,766 shares of company stock worth $656,511. Corporate insiders own 0.26% of the company’s stock.
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 & 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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