California Public Employees Retirement System Cuts Stock Holdings in Procter & Gamble Company (The) $PG

California Public Employees Retirement System reduced its position in Procter & Gamble Company (The) (NYSE:PG) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,444,635 shares of the company’s stock after selling 1,422,155 shares during the period. Procter & Gamble comprises approximately 0.5% of California Public Employees Retirement System’s holdings, making the stock its 29th largest position. California Public Employees Retirement System owned approximately 0.23% of Procter & Gamble worth $836,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Emprise Bank increased its holdings in shares of Procter & Gamble by 2.5% in the 3rd quarter. Emprise Bank now owns 2,766 shares of the company’s stock worth $425,000 after purchasing an additional 68 shares in the last quarter. Affiance Financial LLC lifted its holdings in shares of Procter & Gamble by 2.5% during the third quarter. Affiance Financial LLC now owns 2,803 shares of the company’s stock valued at $431,000 after purchasing an additional 69 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in shares of Procter & Gamble by 12.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 621 shares of the company’s stock valued at $99,000 after buying an additional 71 shares during the last quarter. Dominguez Wealth Management Solutions Inc. boosted its position in shares of Procter & Gamble by 0.3% during the third quarter. Dominguez Wealth Management Solutions Inc. now owns 20,464 shares of the company’s stock valued at $3,144,000 after buying an additional 71 shares during the last quarter. Finally, Partners Wealth Management LLC increased its holdings in Procter & Gamble by 1.2% in the 3rd quarter. Partners Wealth Management LLC now owns 5,996 shares of the company’s stock worth $921,000 after buying an additional 72 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Performance

PG opened at $150.57 on Friday. The company’s 50 day moving average is $153.32 and its 200 day moving average is $151.00. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49. The company has a market cap of $349.91 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 5.04 and a beta of 0.37. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $174.80.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, January 23rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The business had revenue of $22.21 billion during the quarter, compared to analysts’ expectations of $22.36 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts predict 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 was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, January 23rd. Procter & Gamble’s dividend payout ratio (DPR) is currently 62.67%.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,827 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $160.31, for a total value of $2,056,296.37. Following the transaction, the insider owned 12,639 shares of the company’s stock, valued at $2,026,158.09. This trade represents a 50.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 95,903 shares of Procter & Gamble stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $151.15, for a total value of $14,495,738.45. Following the transaction, the insider directly owned 182,607 shares in the company, valued at approximately $27,601,048.05. The trade was a 34.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 348,618 shares of company stock valued at $55,462,643 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PG shares. UBS Group upped their target price on shares of Procter & Gamble from $161.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company restated an “overweight” rating and set a $177.00 price objective on shares of Procter & Gamble in a research report on Tuesday, February 17th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Wednesday, January 7th. They issued a “neutral” rating and a $150.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Procter & Gamble in a research report on Monday, December 29th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.33.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.