NJ State Employees Deferred Compensation Plan Trims Stake in The Procter & Gamble Company (NYSE:PG)

NJ State Employees Deferred Compensation Plan decreased its position in shares of The Procter & Gamble Company (NYSE:PG) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 41,300 shares of the company’s stock after selling 4,400 shares during the period. Procter & Gamble makes up about 0.8% of NJ State Employees Deferred Compensation Plan’s holdings, making the stock its 17th biggest holding. NJ State Employees Deferred Compensation Plan’s holdings in Procter & Gamble were worth $6,924,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble in the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC purchased a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $39,000. Bay Harbor Wealth Management LLC grew its stake in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after buying an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $46,000. Finally, Costello Asset Management INC grew its stake in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

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

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $175.50 on Tuesday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The stock’s fifty day moving average is $166.44 and its 200 day moving average is $169.61. The stock has a market cap of $411.52 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.76 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same period last year, the firm earned $1.84 EPS. Procter & Gamble’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PG. Wells Fargo & Company upped their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler lowered their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.11.

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.