Procter & Gamble (NYSE:PG) Trading Down 1.7% – Here’s Why

The Procter & Gamble Company (NYSE:PG) shares fell 1.7% on Monday . The company traded as low as $161.31 and last traded at $162.32. 1,868,976 shares traded hands during trading, a decline of 54% from the average session volume of 4,062,400 shares. The stock had previously closed at $165.13.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of research reports. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Friday, December 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Morgan Stanley boosted their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Stock Performance

The firm’s 50-day moving average price is $169.92 and its 200-day moving average price is $169.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a market cap of $381.68 billion, a P/E ratio of 27.94, a PEG ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the previous year, the firm posted $1.83 EPS. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock worth $13,317,460 in the last quarter. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Procter & Gamble

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 7.0% during the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. FMR LLC grew its position in Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the last quarter. Legal & General Group Plc increased its stake in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after purchasing an additional 122,190 shares during the period. Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after purchasing an additional 830,476 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

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.