Illinois Municipal Retirement Fund grew its stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 5.1% in the first quarter, HoldingsChannel.com reports. The fund owned 266,428 shares of the company’s stock after acquiring an additional 12,905 shares during the period. Procter & Gamble makes up 0.7% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 15th largest position. Illinois Municipal Retirement Fund’s holdings in Procter & Gamble were worth $45,405,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Transcend Capital Advisors LLC increased its stake in Procter & Gamble by 3.1% during the 1st quarter. Transcend Capital Advisors LLC now owns 32,332 shares of the company’s stock worth $5,510,000 after purchasing an additional 970 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Procter & Gamble by 1.2% during the 1st quarter. Trust Co. of Vermont now owns 178,043 shares of the company’s stock worth $30,342,000 after acquiring an additional 2,184 shares in the last quarter. Victrix Investment Advisors grew its stake in shares of Procter & Gamble by 48.2% during the 1st quarter. Victrix Investment Advisors now owns 3,379 shares of the company’s stock worth $576,000 after acquiring an additional 1,099 shares in the last quarter. Diversified Trust Co grew its stake in shares of Procter & Gamble by 0.5% during the 1st quarter. Diversified Trust Co now owns 142,415 shares of the company’s stock worth $24,270,000 after acquiring an additional 690 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its stake in shares of Procter & Gamble by 8.5% during the 1st quarter. Beacon Financial Advisory LLC now owns 3,101 shares of the company’s stock worth $528,000 after acquiring an additional 242 shares in the last quarter. 65.77% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
PG has been the subject of several research reports. Evercore ISI reaffirmed an “outperform” rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Bank of America cut their price objective on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Raymond James Financial cut their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target for the company. in a report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $178.45.
Procter & Gamble Stock Performance
Procter & Gamble stock opened at $158.73 on Friday. Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $162.65 and its two-hundred day moving average price is $165.74. The stock has a market cap of $372.14 billion, a PE ratio of 25.19, a P/E/G ratio of 4.69 and a beta of 0.43.
Procter & Gamble (NYSE:PG – Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Monday, April 21st. Procter & Gamble’s payout ratio is currently 67.14%.
Insider Buying and Selling
In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.
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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