Insider Selling: The Procter & Gamble Company (NYSE:PG) CEO Sells 47,847 Shares of Stock

The Procter & Gamble Company (NYSE:PG) CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Procter & Gamble Stock Down 0.2 %

PG stock opened at $175.11 on Thursday. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $180.43. The business’s 50 day moving average price is $170.70 and its two-hundred day moving average price is $169.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $412.39 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 3.87 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 EPS. As a group, analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors 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 annualized dividend and a dividend yield of 2.30%. Procter & Gamble’s payout ratio is currently 69.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PG shares. Wells Fargo & Company lifted their price target on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. DA Davidson raised Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their target price for the company from $160.00 to $209.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.45.

Institutional Trading of Procter & Gamble

Several hedge funds and other institutional investors have recently made changes to their positions in PG. International Assets Investment Management LLC grew its stake in shares of Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after buying an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. lifted its position in Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after acquiring an additional 3,653,477 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Procter & Gamble by 7.0% during the 3rd 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 period. Franklin Resources Inc. lifted its holdings in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Procter & Gamble during the 3rd quarter valued at $301,950,000. 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.