NJ State Employees Deferred Compensation Plan maintained its stake in Procter & Gamble Co. (NYSE:PG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock at the end of the second quarter. Procter & Gamble Co. accounts for 1.3% of NJ State Employees Deferred Compensation Plan’s investment portfolio, making the stock its 7th largest position. NJ State Employees Deferred Compensation Plan’s holdings in Procter & Gamble Co. were worth $5,927,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in Procter & Gamble Co. during the second quarter valued at $426,390,000. Bank of Montreal Can acquired a new position in Procter & Gamble Co. during the second quarter valued at $201,298,000. Wellington Management Group LLP increased its position in Procter & Gamble Co. by 17.5% in the first quarter. Wellington Management Group LLP now owns 12,451,833 shares of the company’s stock valued at $1,024,911,000 after buying an additional 1,852,661 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Procter & Gamble Co. during the first quarter valued at $119,711,000. Finally, TIAA CREF Investment Management LLC increased its position in Procter & Gamble Co. by 12.3% in the first quarter. TIAA CREF Investment Management LLC now owns 13,185,252 shares of the company’s stock valued at $1,085,278,000 after buying an additional 1,441,177 shares during the period. 58.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Procter & Gamble Co. (NYSE:PG) traded up 0.11% during mid-day trading on Wednesday, reaching $88.64. The company’s stock had a trading volume of 4,466,235 shares. Procter & Gamble Co. has a 12 month low of $73.50 and a 12 month high of $90.33. The company has a 50 day moving average of $88.19 and a 200-day moving average of $84.64. The firm has a market capitalization of $236.56 billion, a P/E ratio of 24.00 and a beta of 0.54.
Procter & Gamble Co. (NYSE:PG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The business earned $16.10 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Procter & Gamble Co. will post $0.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be given a dividend of $0.6695 per share. The ex-dividend date is Wednesday, October 19th. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. Procter & Gamble Co.’s dividend payout ratio is presently 72.63%.
A number of research firms have recently commented on PG. Argus upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.54 to $103.00 in a report on Wednesday. Vetr downgraded Procter & Gamble Co. from a “buy” rating to a “hold” rating and set a $92.75 price objective on the stock. in a report on Monday. Johnson Rice upgraded Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a report on Friday, August 26th. B. Riley upgraded Procter & Gamble Co. to a “buy” rating and set a $105.00 price objective on the stock in a report on Saturday, August 20th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $95.00 price objective on shares of Procter & Gamble Co. in a report on Saturday, August 13th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Procter & Gamble Co. has an average rating of “Buy” and an average price target of $90.20.
In related news, insider Jeffrey K. Schomburger sold 2,603 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $87.16, for a total transaction of $226,877.48. Following the transaction, the insider now directly owns 33,188 shares in the company, valued at $2,892,666.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Valarie L. Sheppard sold 32,532 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $86.90, for a total value of $2,827,030.80. Following the transaction, the senior vice president now owns 28,397 shares in the company, valued at $2,467,699.30. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble Co. Company Profile
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
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