Procter & Gamble (NYSE:PG) Trading 1.5% Higher – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s share price rose 1.5% during mid-day trading on Wednesday . The company traded as high as $165.15 and last traded at $165.30. Approximately 1,714,284 shares were traded during trading, a decline of 73% from the average daily volume of 6,456,677 shares. The stock had previously closed at $162.85.

Analysts Set New Price Targets

Several equities analysts have commented on PG shares. Wells Fargo & Company raised their price target 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 reissued a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Barclays boosted their price objective on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Stock Performance

The stock has a market cap of $388.94 billion, a PE ratio of 26.41, a P/E/G ratio of 3.76 and a beta of 0.41. The firm’s 50-day moving average is $168.17 and its 200 day moving average is $169.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last three months. Insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

Several large investors have recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Procter & Gamble in the 4th quarter worth about $594,000. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $485,000. M1 Capital Management LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $347,000. DSG Capital Advisors LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $5,899,000. Finally, Chancellor Financial Group WB LP purchased a new position in shares of Procter & Gamble during the 4th quarter worth approximately $1,500,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.