Procter & Gamble (NYSE:PG) Trading 0.5% Higher – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s share price traded up 0.5% during mid-day trading on Wednesday . The stock traded as high as $180.43 and last traded at $180.28. 1,438,216 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,719,552 shares. The stock had previously closed at $179.31.

Wall Street Analyst Weigh In

PG has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Morgan Stanley boosted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Stock Down 0.3 %

The company’s 50-day simple moving average is $170.11 and its two-hundred day simple moving average is $168.83. The firm has a market cap of $421.06 billion, a PE ratio of 31.08, a PEG ratio of 3.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. On average, analysts predict that The Procter & Gamble Company will post 6.96 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.25%. Procter & Gamble’s payout ratio is 69.48%.

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the transaction, the chief executive officer now directly owns 269,172 shares in the company, valued at approximately $46,203,373.80. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,233 shares of company stock worth $6,024,234 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of large investors have recently bought and sold shares of the business. Acorn Creek Capital LLC boosted its position in Procter & Gamble by 2.8% during the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after acquiring an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in Procter & Gamble by 1.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after acquiring an additional 59 shares during the period. Hudson Value Partners LLC grew its position in Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after acquiring an additional 60 shares in the last quarter. Traveka Wealth LLC boosted its stake in shares of Procter & Gamble by 1.7% in the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock valued at $616,000 after purchasing an additional 60 shares during the period. Finally, Fiduciary Alliance LLC grew its holdings in shares of Procter & Gamble by 2.8% in the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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.