California Public Employees Retirement System Sells 1,422,155 Shares of Procter & Gamble Company (The) $PG

California Public Employees Retirement System decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 20.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,444,635 shares of the company’s stock after selling 1,422,155 shares during the quarter. Procter & Gamble makes up 0.5% of California Public Employees Retirement System’s holdings, making the stock its 29th largest holding. California Public Employees Retirement System’s holdings in Procter & Gamble were worth $836,568,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Procter & Gamble by 0.6% during the third quarter. Vanguard Group Inc. now owns 234,630,605 shares of the company’s stock valued at $36,050,992,000 after acquiring an additional 1,419,322 shares during the period. Norges Bank bought a new position in shares of Procter & Gamble in the second quarter worth about $5,099,644,000. Franklin Resources Inc. grew its position in shares of Procter & Gamble by 8.3% during the third quarter. Franklin Resources Inc. now owns 22,850,345 shares of the company’s stock worth $3,510,955,000 after purchasing an additional 1,752,481 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Procter & Gamble by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,385,571 shares of the company’s stock worth $2,770,035,000 after purchasing an additional 294,673 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Procter & Gamble by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 16,556,061 shares of the company’s stock valued at $2,543,839,000 after purchasing an additional 189,968 shares during the period. Institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, Chairman Jon R. Moeller sold 162,232 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the sale, the chairman directly owned 319,385 shares of the company’s stock, valued at $51,884,093.25. The trade was a 33.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Moses Victor Javier Aguilar sold 15,169 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $162.28, for a total value of $2,461,625.32. Following the sale, the insider owned 44,735 shares in the company, valued at approximately $7,259,595.80. This trade represents a 25.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 348,618 shares of company stock worth $55,462,643. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PG has been the subject of several recent analyst reports. Rothschild & Co Redburn upped their price target on Procter & Gamble from $155.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their target price for the stock from $156.00 to $179.00 in a report on Tuesday, December 16th. Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, February 18th. BNP Paribas Exane cut their target price on shares of Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, January 16th. Finally, Piper Sandler started coverage on shares of Procter & Gamble in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $150.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $168.33.

Procter & Gamble Stock Up 0.0%

Shares of PG opened at $150.57 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. The stock has a market capitalization of $349.91 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 5.04 and a beta of 0.37. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $174.80. The business’s 50 day simple moving average is $153.32 and its 200-day simple moving average is $151.00.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $22.21 billion during the quarter, compared to analyst estimates of $22.36 billion. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. Procter & Gamble’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. As a group, equities analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were issued a $1.0568 dividend. The ex-dividend date was Friday, January 23rd. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. Procter & Gamble’s payout ratio is 62.67%.

About Procter & Gamble

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.