Procter & Gamble (NYSE:PG) Stock Price Down 0.2% – Here’s What Happened

Shares of The Procter & Gamble Company (NYSE:PG) were down 0.2% on Tuesday . The stock traded as low as $169.66 and last traded at $170.34. Approximately 988,316 shares were traded during trading, a decline of 85% from the average daily volume of 6,651,482 shares. The stock had previously closed at $170.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PG shares. TD Cowen initiated coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Stock Down 0.2 %

The firm’s 50 day simple moving average is $170.21 and its 200-day simple moving average is $168.45. The company has a market cap of $401.32 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 3.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Buying and Selling

In related news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. This trade represents a 25.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,727 shares of company stock valued at $46,014,037 over the last three months. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PG. International Assets Investment Management LLC raised its position in Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after acquiring an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. raised its position in Procter & Gamble by 16,292.0% during the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after acquiring an additional 3,653,477 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Procter & Gamble in the third quarter valued at approximately $301,950,000. Finally, AMF Tjanstepension AB raised its position in shares of Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after buying an additional 1,466,115 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

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.