Kentucky Retirement Systems Lowers Stock Position in The Procter & Gamble Company (NYSE:PG)

Kentucky Retirement Systems trimmed its position in The Procter & Gamble Company (NYSE:PG) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,996 shares of the company’s stock after selling 13,855 shares during the quarter. Procter & Gamble comprises approximately 0.8% of Kentucky Retirement Systems’ holdings, making the stock its 16th biggest position. Kentucky Retirement Systems’ holdings in Procter & Gamble were worth $28,404,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PG. Concurrent Investment Advisors LLC grew its holdings in Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Procter & Gamble during the third quarter valued at $5,705,000. Welch Group LLC increased its holdings in Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after acquiring an additional 2,990 shares during the last quarter. GAMMA Investing LLC lifted its stake in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after purchasing an additional 10,777 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its position in shares of Procter & Gamble by 15.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after purchasing an additional 55,620 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 1.5 %

Procter & Gamble stock opened at $169.57 on Friday. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The business has a fifty day moving average of $170.32 and a two-hundred day moving average of $168.33. The firm has a market cap of $399.34 billion, a P/E ratio of 29.24, a P/E/G ratio of 3.60 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Activity

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. The trade was a 87.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the sale, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock valued at $53,268,499 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research reports. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Thursday, August 29th. Morgan Stanley raised their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price target on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.