Procter & Gamble (NYSE:PG) Trading Up 1.2% – Here’s Why

The Procter & Gamble Company (NYSE:PG) was up 1.2% during trading on Friday . The stock traded as high as $169.48 and last traded at $169.05. Approximately 2,487,238 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 6,641,190 shares. The stock had previously closed at $167.08.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Evercore ISI increased their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Stock Performance

The firm has a 50 day moving average price of $170.44 and a 200-day moving average price of $168.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market cap of $400.10 billion, a P/E ratio of 29.15, a P/E/G ratio of 3.60 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (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 business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the company posted $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jon R. Moeller sold 31,797 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $5,380,688.34. Following the completion of the sale, the chief executive officer now owns 300,777 shares in the company, valued at approximately $50,897,483.94. This represents a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Shailesh Jejurikar sold 10,623 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $1,797,624.06. Following the completion of the sale, the chief operating officer now owns 23,890 shares in the company, valued at $4,042,665.80. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,597 shares of company stock worth $53,268,499. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors and hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC boosted its holdings in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares during the last quarter. Radnor Capital Management LLC bought a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $5,705,000. Welch Group LLC grew its stake in shares of Procter & Gamble by 0.9% in the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after buying an additional 2,990 shares in the last quarter. GAMMA Investing LLC raised its position in Procter & Gamble by 67.2% during the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after acquiring an additional 10,777 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its stake in Procter & Gamble by 15.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after acquiring an additional 55,620 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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.