Procter & Gamble (NYSE:PG) Trading Up 0.3% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s share price was up 0.3% on Tuesday . The stock traded as high as $168.70 and last traded at $168.63. Approximately 823,754 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 6,731,215 shares. The stock had previously closed at $168.11.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Evercore ISI upped their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Stock Performance

The company has a market cap of $397.86 billion, a PE ratio of 29.13, a P/E/G ratio of 3.70 and a beta of 0.44. The stock’s 50-day simple moving average is $170.55 and its 200 day simple moving average is $169.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. Procter & Gamble’s dividend payout ratio is presently 69.31%.

Insider Activity

In related news, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 83,080 shares of company stock worth $14,629,038. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hiley Hunt Wealth Management purchased a new position in Procter & Gamble in the third quarter valued at approximately $207,000. Brass Tax Wealth Management Inc. raised its stake in shares of Procter & Gamble by 0.3% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 49,582 shares of the company’s stock valued at $8,588,000 after acquiring an additional 131 shares during the period. 1ST Source Bank boosted its position in Procter & Gamble by 10.4% during the 3rd quarter. 1ST Source Bank now owns 55,872 shares of the company’s stock worth $9,677,000 after purchasing an additional 5,255 shares during the period. DGS Capital Management LLC purchased a new position in Procter & Gamble in the third quarter valued at about $267,000. Finally, Copley Financial Group Inc. purchased a new stake in shares of Procter & Gamble in the third quarter worth about $668,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

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.