Procter & Gamble (NYSE:PG) Hits New 1-Year High Following Analyst Upgrade

The Procter & Gamble Company (NYSE:PG)’s stock price hit a new 52-week high during mid-day trading on Thursday after Argus raised their price target on the stock from $180.00 to $185.00. Argus currently has a buy rating on the stock. Procter & Gamble traded as high as $164.32 and last traded at $162.39, with a volume of 1786187 shares changing hands. The stock had previously closed at $162.60.

A number of other analysts have also recently commented on PG. Deutsche Bank Aktiengesellschaft reduced their price objective on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus increased their price objective on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their target price for the company from $160.00 to $175.00 in a research report on Monday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, January 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $169.76.

Insider Activity

In related news, CEO Ma. Fatima Francisco sold 45,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $156.00, for a total value of $7,020,000.00. Following the completion of the sale, the chief executive officer now directly owns 973 shares in the company, valued at $151,788. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 45,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $156.00, for a total value of $7,020,000.00. Following the completion of the transaction, the chief executive officer now directly owns 973 shares in the company, valued at approximately $151,788. The disclosure for this sale can be found here. Insiders sold 100,865 shares of company stock valued at $16,029,280 in the last ninety days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds have recently added to or reduced their stakes in PG. Advantage Trust Co bought a new position in Procter & Gamble during the 4th quarter worth about $28,000. Wyrmwood Management LLC purchased a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $29,000. Naples Money Management LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $31,000. Finally, Criterion Capital Advisors LLC bought a new position in Procter & Gamble in the fourth quarter worth approximately $33,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The company has a market cap of $383.64 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. The business has a fifty day simple moving average of $159.57 and a two-hundred day simple moving average of $153.39.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. Research analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.