Procter & Gamble (NYSE:PG) Trading Up 1.1% – Here’s What Happened

Shares of The Procter & Gamble Company (NYSE:PG) were up 1.1% during trading on Tuesday . The company traded as high as $174.90 and last traded at $174.39. Approximately 1,665,991 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 6,657,854 shares. The stock had previously closed at $172.51.

Wall Street Analyst Weigh In

Several research firms have recently commented on PG. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price target for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, TD Cowen initiated coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.21.

Procter & Gamble Price Performance

The company’s 50-day simple moving average is $171.57 and its 200-day simple moving average is $166.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The company has a market capitalization of $409.01 billion, a PE ratio of 28.43, a P/E/G ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. During the same period last year, the business posted $1.37 EPS. The company’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Insider Buying and Selling

In related news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. This trade represents a 0.00 % 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. In related news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the transaction, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at $3,657,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,194 shares of company stock valued at $65,140,718 over the last quarter. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds have recently bought and sold shares of PG. Ables Iannone Moore & Associates Inc. acquired a new position in Procter & Gamble in the 4th quarter valued at $485,000. Walden Wealth Partners LLC acquired a new position in Procter & Gamble in the fourth quarter valued at $2,581,000. B. Riley Wealth Advisors Inc. lifted its position in Procter & Gamble by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 183,908 shares of the company’s stock worth $26,950,000 after buying an additional 20,519 shares during the period. Skyline Advisors Inc. acquired a new stake in Procter & Gamble in the 4th quarter worth about $497,000. Finally, Hart & Patterson Financial Group LLC purchased a new stake in Procter & Gamble in the 4th quarter valued at about $359,000. Hedge funds and other institutional investors 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.