Procter & Gamble (NYSE:PG) Trading Down 0.8% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s stock price dropped 0.8% during mid-day trading on Thursday . The stock traded as low as $166.03 and last traded at $167.17. Approximately 1,443,613 shares were traded during trading, a decline of 77% from the average daily volume of 6,404,591 shares. The stock had previously closed at $168.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PG shares. Barclays lifted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Piper Sandler dropped their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Trading Down 0.9 %

The firm’s 50-day moving average is $167.71 and its 200 day moving average is $169.77. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $391.69 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $21.66 billion. During the same period in the prior year, the company posted $1.84 earnings per share. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.41%. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Insider Activity

In other news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $28,313,845.76. The trade was 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 18,000 shares of Procter & Gamble stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Procter & Gamble

Several large investors have recently added to or reduced their stakes in the stock. Berkshire Asset Management LLC PA increased its position in shares of Procter & Gamble by 0.9% during the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock valued at $38,833,000 after buying an additional 2,179 shares during the period. Strategic Advisors LLC lifted its holdings in Procter & Gamble by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. bought a new stake in shares of Procter & Gamble during the 3rd quarter valued at $668,000. Fortem Financial Group LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $569,000. Finally, Richard C. Young & CO. LTD. increased its holdings in Procter & Gamble by 2.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after acquiring an additional 2,568 shares during the last quarter. Institutional investors own 65.77% 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.