Procter & Gamble (NYSE:PG) Trading Up 1.6% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) shares were up 1.6% during mid-day trading on Friday . The stock traded as high as $177.51 and last traded at $177.50. 2,069,390 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,326,481 shares. The stock had previously closed at $174.66.

Analyst Ratings Changes

PG has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler decreased their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Barclays lifted their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their target price 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. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.11.

Procter & Gamble Stock Performance

The company has a market capitalization of $413.45 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. 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 company’s 50 day moving average is $166.72 and its 200-day moving average is $169.72.

Procter & Gamble (NYSE:PG) last posted its quarterly 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 return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors have recently bought and sold shares of PG. NewSquare Capital LLC raised its holdings in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the period. Navigoe LLC bought a new stake in Procter & Gamble during the 4th quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Procter & Gamble during the 3rd quarter valued at approximately $33,000. Finally, Hoey Investments Inc. raised its position in shares of Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

About Procter & Gamble

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.