Procter & Gamble (NYSE:PG) Shares Down 0.7% on Insider Selling

The Procter & Gamble Company (NYSE:PG) dropped 0.7% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $171.23 and last traded at $171.38. Approximately 1,454,472 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 7,187,160 shares. The stock had previously closed at $172.65.

Specifically, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler decreased 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. Finally, Stifel Nicolaus increased their price objective 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. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $180.42.

Procter & Gamble Trading Down 0.7 %

The firm has a market capitalization of $401.81 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. The stock’s 50-day moving average price is $166.11 and its 200 day moving average price is $169.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors and hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC grew its holdings in Procter & Gamble by 4.5% in 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. Strategic Advisors LLC grew its holdings in Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after purchasing an additional 1,818 shares during the last quarter. Copley Financial Group Inc. purchased a new position in Procter & Gamble in the third quarter worth $668,000. Fortem Financial Group LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at $569,000. Finally, Richard C. Young & CO. LTD. grew its holdings in shares of Procter & Gamble by 2.1% during the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after buying an additional 2,568 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other 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.