The Procter & Gamble Company (NYSE:PG) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in The Procter & Gamble Company (NYSE:PG) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661,737 shares of the company’s stock after acquiring an additional 20,600 shares during the quarter. Procter & Gamble accounts for about 0.6% of State of Michigan Retirement System’s holdings, making the stock its 27th biggest position. State of Michigan Retirement System’s holdings in Procter & Gamble were worth $110,940,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PG. RPg Family Wealth Advisory LLC acquired a new stake in Procter & Gamble in the third quarter valued at $33,000. Noble Wealth Management PBC acquired a new stake in Procter & Gamble in the fourth quarter valued at $39,000. Bay Harbor Wealth Management LLC lifted its holdings in Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after acquiring an additional 243 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $46,000. Finally, Costello Asset Management INC lifted its holdings in Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. UBS Group restated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Finally, Piper Sandler decreased their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.11.

Procter & Gamble Stock Performance

Shares of PG opened at $175.50 on Tuesday. The business’s 50 day moving average is $166.44 and its two-hundred day moving average is $169.61. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The firm has a market cap of $411.52 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 3.76 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same period in the prior year, the company posted $1.84 EPS. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% 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 and Home Care, and Baby, Feminine and 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.