Procter & Gamble (NYSE:PG) Trading 0.3% Higher – What’s Next?

The Procter & Gamble Company (NYSE:PG)’s stock price was up 0.3% on Wednesday . The stock traded as high as $168.08 and last traded at $167.65. Approximately 3,951,613 shares traded hands during trading, a decline of 41% from the average daily volume of 6,696,123 shares. The stock had previously closed at $167.09.

Analyst Upgrades and Downgrades

PG has been the subject of several recent research reports. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research report on Friday, December 27th. Evercore ISI raised their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. 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 objective for the company. Finally, Morgan Stanley upped their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Trading Down 1.0 %

The firm has a market cap of $390.89 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 3.70 and a beta of 0.44. The firm’s 50-day moving average is $170.34 and its 200-day moving average is $169.87. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period last year, the company earned $1.83 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.43%. Procter & Gamble’s payout ratio is 69.31%.

Insider Buying and Selling

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of Procter & Gamble stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 13,783 shares in the company, valued at approximately $2,343,110. This represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,439 shares of company stock worth $13,317,460. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procter & Gamble

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Procter & Gamble by 7.0% during the third 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. FMR LLC grew its position in shares of Procter & Gamble by 2.7% during the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the period. Legal & General Group Plc increased its stake in shares of Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after purchasing an additional 122,190 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

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.