New York State Teachers Retirement System Sells 97,230 Shares of The Procter & Gamble Company (NYSE:PG)

New York State Teachers Retirement System cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,193,218 shares of the company’s stock after selling 97,230 shares during the quarter. Procter & Gamble makes up about 0.8% of New York State Teachers Retirement System’s investment portfolio, making the stock its 16th largest position. New York State Teachers Retirement System owned 0.09% of Procter & Gamble worth $361,706,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Procter & Gamble by 1.0% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,603 shares of the company’s stock worth $2,738,000 after buying an additional 165 shares during the period. My Legacy Advisors LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $1,074,000. Unique Wealth Strategies LLC purchased a new position in Procter & Gamble during the second quarter valued at $172,000. DT Investment Partners LLC raised its stake in Procter & Gamble by 1.6% during the second quarter. DT Investment Partners LLC now owns 22,710 shares of the company’s stock valued at $3,745,000 after buying an additional 366 shares during the last quarter. Finally, &PARTNERS raised its stake in Procter & Gamble by 202.8% during the second quarter. &PARTNERS now owns 90,938 shares of the company’s stock valued at $14,990,000 after buying an additional 60,910 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded down $1.68 during trading hours on Friday, hitting $168.47. The company’s stock had a trading volume of 1,719,264 shares, compared to its average volume of 6,582,102. The business has a 50 day moving average price of $167.25 and a two-hundred day moving average price of $163.54. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $171.89. The company has a market cap of $397.61 billion, a PE ratio of 27.53, a PEG ratio of 3.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is 65.85%.

Insider Activity

In related news, CEO R. Alexandra Keith sold 3,373 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO R. Alexandra Keith sold 3,373 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold 223,259 shares of company stock worth $37,948,393 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. BNP Paribas initiated coverage on Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.95.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.