Procter & Gamble (NYSE:PG) Stock Price Down 0.6% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s share price was down 0.6% on Friday . The company traded as low as $166.62 and last traded at $167.60. Approximately 1,495,349 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,527,751 shares. The stock had previously closed at $168.59.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PG shares. Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Price Performance

The company’s fifty day simple moving average is $167.27 and its 200-day simple moving average is $169.81. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $394.39 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insider Transactions at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PG. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC acquired a new position in Procter & Gamble during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in Procter & Gamble during the 4th quarter valued at about $31,000. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble during the 3rd quarter valued at about $33,000. Finally, Hoey Investments Inc. raised its position in shares of Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.