State of New Jersey Common Pension Fund D Sells 66,914 Shares of Procter & Gamble Company (The) (NYSE:PG)

State of New Jersey Common Pension Fund D decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 799,851 shares of the company’s stock after selling 66,914 shares during the quarter. Procter & Gamble accounts for approximately 0.6% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 22nd largest position. State of New Jersey Common Pension Fund D’s holdings in Procter & Gamble were worth $136,311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PG. Nuveen LLC acquired a new position in Procter & Gamble during the first quarter worth about $1,954,941,000. GAMMA Investing LLC raised its stake in Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares in the last quarter. Capital Research Global Investors raised its stake in Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. Northern Trust Corp raised its stake in Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Procter & Gamble by 19.8% during the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company’s stock worth $2,299,580,000 after acquiring an additional 2,228,151 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PG shares. Wells Fargo & Company decreased their target price on shares of Procter & Gamble from $175.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. UBS Group set a $180.00 target price on shares of Procter & Gamble and gave the company a “buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $170.00 target price (down previously from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Erste Group Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective on the stock. in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $175.88.

Procter & Gamble Trading Down 1.0%

Shares of PG opened at $153.83 on Friday. The business has a 50-day moving average of $157.38 and a 200 day moving average of $163.37. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The firm has a market cap of $360.32 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 4.10 and a beta of 0.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. The business had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. As a group, research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble’s payout ratio is presently 64.98%.

Procter & Gamble Profile

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.