Teacher Retirement System of Texas Buys 178,052 Shares of The Procter & Gamble Company (NYSE:PG)

Teacher Retirement System of Texas raised its position in The Procter & Gamble Company (NYSE:PG) by 21.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,021,008 shares of the company’s stock after buying an additional 178,052 shares during the period. Procter & Gamble comprises approximately 0.6% of Teacher Retirement System of Texas’ holdings, making the stock its 20th largest holding. Teacher Retirement System of Texas’ holdings in Procter & Gamble were worth $171,172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PG. First National Bank of Hutchinson lifted its stake in shares of Procter & Gamble by 93.5% during the fourth quarter. First National Bank of Hutchinson now owns 4,065 shares of the company’s stock valued at $681,000 after acquiring an additional 1,964 shares during the period. Strategic Financial Services Inc. raised its holdings in Procter & Gamble by 1.5% during the 4th quarter. Strategic Financial Services Inc. now owns 7,603 shares of the company’s stock worth $1,275,000 after purchasing an additional 114 shares during the last quarter. Atlantic Private Wealth LLC lifted its position in Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after purchasing an additional 101 shares during the period. Next Capital Management LLC boosted its stake in shares of Procter & Gamble by 17.4% in the 4th quarter. Next Capital Management LLC now owns 2,711 shares of the company’s stock valued at $454,000 after purchasing an additional 401 shares during the last quarter. Finally, L.K. Benson & Company P.C. acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $295,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on PG shares. JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Piper Sandler dropped their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Barclays raised their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, DA Davidson reissued a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Stock Performance

NYSE PG opened at $168.66 on Thursday. The firm’s fifty day moving average price is $167.71 and its two-hundred day moving average price is $169.77. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm has a market capitalization of $395.47 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insiders Place Their Bets

In related news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last 90 days. Company insiders own 0.18% of the company’s stock.

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.