Procter & Gamble (NYSE:PG) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Procter & Gamble (NYSE:PG) in a report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has a $164.00 price objective on the stock.

A number of other brokerages also recently commented on PG. Evercore ISI increased their price objective on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. BNP Paribas assumed coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Finally, Citigroup raised their price objective on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Stock Performance

PG opened at $169.58 on Monday. The business has a 50 day moving average price of $171.88 and a two-hundred day moving average price of $167.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $400.23 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. Procter & Gamble has a 1-year low of $142.50 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that Procter & Gamble will post 6.98 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is 65.69%.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the sale, the chief executive officer now owns 13,783 shares in the company, valued at $2,343,110. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 385,186 shares of company stock worth $65,479,358. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Procter & Gamble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter worth $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the 2nd quarter worth $29,000. Ruedi Wealth Management Inc. increased its stake in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble during the second quarter valued at $34,000. Finally, Quest Partners LLC bought a new position in Procter & Gamble in the second quarter valued at about $36,000. 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.