Procter & Gamble (NYSE:PG) Trading Up 0.5% – What’s Next?

The Procter & Gamble Company (NYSE:PG)’s stock price shot up 0.5% during trading on Wednesday . The stock traded as high as $169.18 and last traded at $168.94. 2,460,756 shares traded hands during trading, a decline of 63% from the average session volume of 6,738,386 shares. The stock had previously closed at $168.11.

Wall Street Analyst Weigh In

PG has been the subject of several research analyst reports. JPMorgan Chase & Co. upped 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. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Piper Sandler assumed coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Finally, Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Trading Up 0.7 %

The business has a fifty day simple moving average of $170.51 and a 200 day simple moving average of $169.81. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company has a market cap of $400.73 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 3.70 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last released its quarterly 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. 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 business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock worth $14,629,038 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds have recently made changes to their positions in the business. Concurrent Investment Advisors LLC lifted its position in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Copley Financial Group Inc. bought a new position in Procter & Gamble during the 3rd quarter worth approximately $668,000. Synovus Financial Corp increased its holdings in shares of Procter & Gamble by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after acquiring an additional 6,077 shares during the last quarter. Radnor Capital Management LLC bought a new stake in Procter & Gamble during the third quarter valued at $5,705,000. Finally, Welch Group LLC grew its position in shares of Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after buying an additional 2,990 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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.