The Procter & Gamble Company (NYSE:PG) Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,736,789 shares of the company's stock after selling 118,933 shares during the period. Procter & Gamble makes up 0.7% of California State Teachers Retirement System's portfolio, making the stock its 18th biggest position. California State Teachers Retirement System owned about 0.16% of Procter & Gamble worth $626,473,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Howard Capital Management Group LLC increased its stake in shares of Procter & Gamble by 1.0% in the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company's stock worth $1,442,000 after acquiring an additional 82 shares during the last quarter. Principal Financial Group Inc. increased its position in Procter & Gamble by 14.7% during the third quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company's stock worth $820,031,000 after buying an additional 608,168 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in Procter & Gamble during the third quarter worth $201,000. Invst LLC increased its position in Procter & Gamble by 0.7% during the third quarter. Invst LLC now owns 15,889 shares of the company's stock worth $2,752,000 after buying an additional 103 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Procter & Gamble during the third quarter worth $1,632,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $161.04 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The stock has a market capitalization of $377.61 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The business's fifty day moving average price is $168.16 and its two-hundred day moving average price is $168.32.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03). Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period last year, the company earned $1.52 EPS. As a group, analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, April 21st. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is 66.98%.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the topic of several analyst reports. Raymond James lowered their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday. Bank of America lowered their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday. Truist Financial lowered their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday. Royal Bank of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $164.00 to $177.00 in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $180.79.

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.

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