New York State Teachers Retirement System Cuts Stake in The Procter & Gamble Company (NYSE:PG)

New York State Teachers Retirement System lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,090,845 shares of the company’s stock after selling 102,373 shares during the period. Procter & Gamble comprises about 0.7% of New York State Teachers Retirement System’s investment portfolio, making the stock its 18th biggest holding. New York State Teachers Retirement System owned approximately 0.09% of Procter & Gamble worth $362,134,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after purchasing an additional 3,653,477 shares in the last quarter. TD Asset Management Inc raised its holdings in Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after purchasing an additional 1,907,716 shares in the last quarter. AMF Tjanstepension AB increased its stake in shares of Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Procter & Gamble in the 1st quarter worth about $233,788,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PG shares. Evercore ISI increased their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Citigroup increased their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price target for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, Morgan Stanley raised their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Insider Buying and Selling

In related news, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. The trade was a 0.00 % 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, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at $3,657,210. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 397,986 shares of company stock worth $67,642,430. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG traded down $0.41 on Wednesday, reaching $166.76. 492,404 shares of the stock were exchanged, compared to its average volume of 6,630,265. The firm has a market capitalization of $392.73 billion, a PE ratio of 28.82, a PEG ratio of 3.64 and a beta of 0.41. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company’s 50-day simple moving average is $171.88 and its two-hundred day simple moving average is $167.87.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. Analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.