Procter & Gamble (NYSE:PG) Stock Price Down 0.4% Following Insider Selling

The Procter & Gamble Company (NYSE:PG) dropped 0.4% on Friday after an insider sold shares in the company. The company traded as low as $168.44 and last traded at $168.96. Approximately 1,228,292 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,650,744 shares. The stock had previously closed at $169.62.

Specifically, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred 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 completion of 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 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of analysts recently issued reports on PG shares. TD Cowen assumed coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Evercore ISI lifted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a report on Monday, September 30th. Finally, 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. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Stock Down 0.4 %

The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market cap of $397.72 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.67 and a beta of 0.41. The firm’s fifty day simple moving average is $171.92 and its 200 day simple moving average is $167.46.

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

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is 69.48%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in shares of Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Procter & Gamble by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after purchasing an additional 733,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Procter & Gamble by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after purchasing an additional 545,601 shares during the period. Janus Henderson Group PLC boosted its stake in Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after purchasing an additional 79,665 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Procter & Gamble by 3.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after purchasing an additional 216,300 shares during the period. Institutional investors and hedge funds 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.