TIAA CREF Investment Management LLC Raises Position in Procter & Gamble Co (PG)

TIAA CREF Investment Management LLC increased its stake in shares of Procter & Gamble Co (NYSE:PG) by 23.8% in the 3rd quarter, Holdings Channel reports. The firm owned 10,793,640 shares of the company’s stock after buying an additional 2,078,176 shares during the quarter. Procter & Gamble makes up 0.6% of TIAA CREF Investment Management LLC’s portfolio, making the stock its 28th largest position. TIAA CREF Investment Management LLC’s holdings in Procter & Gamble were worth $898,355,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC raised its holdings in Procter & Gamble by 209.4% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 1,349 shares of the company’s stock valued at $105,000 after acquiring an additional 913 shares during the last quarter. Ayalon Holdings Ltd. acquired a new position in Procter & Gamble in the 3rd quarter valued at $108,000. First Mercantile Trust Co. acquired a new position in Procter & Gamble in the 3rd quarter valued at $111,000. Willingdon Wealth Management raised its holdings in Procter & Gamble by 4,668.6% in the 3rd quarter. Willingdon Wealth Management now owns 1,669 shares of the company’s stock valued at $139,000 after acquiring an additional 1,634 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC raised its holdings in Procter & Gamble by 224.9% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,722 shares of the company’s stock valued at $143,000 after acquiring an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

In related news, Vice Chairman Jon R. Moeller sold 3,224 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $98.57, for a total transaction of $317,789.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Taylor sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $99.09, for a total transaction of $2,972,700.00. Following the sale, the chairman now directly owns 223,849 shares of the company’s stock, valued at $22,181,197.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,270,496 shares of company stock valued at $224,931,027. 1.84% of the stock is owned by corporate insiders.

Procter & Gamble stock traded up $0.71 during trading on Friday, reaching $102.03. 4,889,851 shares of the company’s stock were exchanged, compared to its average volume of 9,486,317. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. Procter & Gamble Co has a 52-week low of $70.73 and a 52-week high of $101.78. The stock has a market cap of $252.23 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 3.26 and a beta of 0.38.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Procter & Gamble had a net margin of 16.13% and a return on equity of 21.41%. The firm had revenue of $17.44 billion during the quarter, compared to analysts’ expectations of $17.16 billion. During the same period in the prior year, the company earned $1.19 EPS. The firm’s revenue was up .2% on a year-over-year basis. Analysts forecast that Procter & Gamble Co will post 4.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, January 18th were given a dividend of $0.7172 per share. The ex-dividend date of this dividend was Thursday, January 17th. This represents a $2.87 dividend on an annualized basis and a yield of 2.81%. Procter & Gamble’s dividend payout ratio (DPR) is 68.01%.

Several brokerages have weighed in on PG. Macquarie set a $110.00 price target on Procter & Gamble and gave the company a “buy” rating in a report on Tuesday, February 26th. Credit Suisse Group initiated coverage on Procter & Gamble in a report on Wednesday, March 6th. They issued a “neutral” rating and a $100.00 price target for the company. Morgan Stanley raised shares of Procter & Gamble from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $91.00 to $106.00 in a research note on Thursday, December 13th. Wells Fargo & Co reissued a “hold” rating and set a $91.00 price objective on shares of Procter & Gamble in a research note on Wednesday, January 23rd. Finally, Berenberg Bank raised shares of Procter & Gamble from a “sell” rating to a “hold” rating and boosted their price objective for the company from $86.00 to $92.00 in a research note on Thursday, January 24th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $96.21.

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Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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