New York State Teachers Retirement System lifted its stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,837,770 shares of the company’s stock after buying an additional 19,524 shares during the period. Procter & Gamble makes up 0.5% of New York State Teachers Retirement System’s investment portfolio, making the stock its 24th largest holding. New York State Teachers Retirement System owned about 0.08% of Procter & Gamble worth $265,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Procter & Gamble by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after purchasing an additional 2,829,151 shares during the last quarter. State Street Corp lifted its holdings in shares of Procter & Gamble by 1.0% in the 4th quarter. State Street Corp now owns 101,618,926 shares of the company’s stock valued at $14,563,008,000 after purchasing an additional 984,102 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Procter & Gamble by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock valued at $8,962,689,000 after purchasing an additional 1,974,556 shares during the period. Norges Bank acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at about $4,664,783,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Procter & Gamble by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,612,826 shares of the company’s stock worth $4,243,815,000 after buying an additional 1,091,091 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Trading Up 2.6%
Shares of PG stock opened at $151.30 on Friday. The company has a market capitalization of $352.32 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 6.27 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $146.28 and its two-hundred day moving average is $148.23. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $167.25.
Procter & Gamble Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were paid a $1.0885 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, April 24th. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. Procter & Gamble’s dividend payout ratio (DPR) is 63.60%.
Key Headlines Impacting Procter & Gamble
Here are the key news stories impacting Procter & Gamble this week:
- Positive Sentiment: Procter & Gamble is being highlighted as potentially undervalued after its 70th dividend increase, with some commentary suggesting the stock may still have upside despite its premium valuation. Procter & Gamble (PG) Stock May Be 21% Undervalued Following Its 70th Dividend Increase
- Positive Sentiment: The company continues to draw attention as a long-term dividend-growth stock, which can appeal to income-focused investors and support demand for the shares. Here’s How Much You Need to Replace $70,000 in Salary With Dividend Income
- Neutral Sentiment: Procter & Gamble scheduled an earnings webcast discussion, keeping investor attention on upcoming guidance and any updates on demand, margins, and pricing power. Procter & Gamble (NYSE:PG) Schedules Earnings Webcast Discussion
- Neutral Sentiment: Articles on the stock’s “quality” and long dividend history suggest the market still views PG as a stable, reliable holding, but also note that the valuation leaves limited room for error. Procter & Gamble: Quality Priced In, Patience Now Required
- Neutral Sentiment: Another analysis emphasized Procter & Gamble’s 70 years of dividend growth, but cautioned that there may be little room for operational missteps at current levels. Procter & Gamble: 70 Years Of Dividend Growth, But Little Room For Error
- Negative Sentiment: Piper Sandler reportedly rated Procter & Gamble a Hold, reflecting a more cautious view on near-term upside after the stock’s recent run. Procter & Gamble (PG) Receives a Hold from Piper Sandler
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PG. Bank of America reduced their price objective on Procter & Gamble from $171.00 to $167.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $163.00 target price on shares of Procter & Gamble in a report on Monday, April 27th. BNP Paribas Exane reduced their price target on shares of Procter & Gamble from $172.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Piper Sandler increased their price target on shares of Procter & Gamble from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Royal Bank Of Canada lowered their price objective on shares of Procter & Gamble from $172.00 to $167.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. Twelve equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.47.
Get Our Latest Research Report on PG
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.
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