California State Teachers Retirement System Decreases Stake in Procter & Gamble Company (The) $PG

California State Teachers Retirement System cut its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,583,969 shares of the company’s stock after selling 92,221 shares during the period. Procter & Gamble comprises approximately 0.5% of California State Teachers Retirement System’s investment portfolio, making the stock its 23rd biggest holding. California State Teachers Retirement System’s holdings in Procter & Gamble were worth $517,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Park Square Financial Group LLC increased its position in Procter & Gamble by 65.1% in the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 71 shares during the last quarter. Evolution Wealth Management Inc. increased its position in Procter & Gamble by 1,315.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Litman Gregory Wealth Management LLC purchased a new stake in Procter & Gamble during the fourth quarter valued at $26,000. Finally, Maseco LLP bought a new position in Procter & Gamble during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PG shares. Wells Fargo & Company boosted their target price on shares of Procter & Gamble from $158.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $163.00 price target on shares of Procter & Gamble in a report on Monday, April 27th. Evercore set a $162.00 price target on Procter & Gamble in a research report on Monday, April 27th. Raymond James Financial reduced their price objective on Procter & Gamble from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.74.

Procter & Gamble Stock Up 0.6%

Shares of NYSE:PG opened at $149.59 on Wednesday. The firm has a market capitalization of $348.33 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 7.39 and a beta of 0.39. The business has a 50 day simple moving average of $147.63 and a two-hundred day simple moving average of $148.90. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be issued a dividend of $1.0885 per share. The ex-dividend date is Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 2.9%. Procter & Gamble’s payout ratio is presently 63.60%.

Procter & Gamble Profile

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.