Retirement Systems of Alabama Sells 23,370 Shares of The Procter & Gamble Company (NYSE:PG)

Retirement Systems of Alabama lowered its position in The Procter & Gamble Company (NYSE:PG) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 932,874 shares of the company’s stock after selling 23,370 shares during the quarter. Procter & Gamble comprises about 0.6% of Retirement Systems of Alabama’s portfolio, making the stock its 27th largest position. Retirement Systems of Alabama’s holdings in Procter & Gamble were worth $153,850,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PG. Alera Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 1.2% during the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock worth $812,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Alliance LLC boosted its holdings in shares of Procter & Gamble by 2.8% in the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after acquiring an additional 61 shares during the period. LCM Capital Management Inc grew its position in shares of Procter & Gamble by 1.1% during the first quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock worth $925,000 after acquiring an additional 63 shares during the last quarter. Home Federal Bank of Tennessee increased its holdings in shares of Procter & Gamble by 0.3% in the 2nd quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock valued at $3,846,000 after acquiring an additional 63 shares during the period. Finally, Prentice Wealth Management LLC boosted its stake in Procter & Gamble by 1.6% during the 2nd quarter. Prentice Wealth Management LLC now owns 4,059 shares of the company’s stock worth $669,000 after purchasing an additional 64 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The disclosure for this sale can be found here. Over the last three months, insiders sold 223,259 shares of company stock worth $37,948,393. 0.17% of the stock is owned by company insiders.

Procter & Gamble Price Performance

Procter & Gamble stock traded down $0.98 during mid-day trading on Friday, hitting $169.17. 4,771,267 shares of the company were exchanged, compared to its average volume of 6,597,829. 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 capitalization of $399.26 billion, a P/E ratio of 27.64, a PEG ratio of 3.64 and a beta of 0.41. The business’s 50 day simple moving average is $167.29 and its two-hundred day simple moving average is $163.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. Analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.38%. Procter & Gamble’s payout ratio is currently 65.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PG shares. Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. BNP Paribas began coverage on Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Finally, TD Cowen began coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Procter & Gamble presently has a consensus 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.