Procter & Gamble (NYSE:PG) Shares Up 0.6% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) shares rose 0.6% on Wednesday . The company traded as high as $173.39 and last traded at $173.29. Approximately 1,014,029 shares changed hands during trading, a decline of 85% from the average daily volume of 6,691,155 shares. The stock had previously closed at $172.28.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. DA Davidson upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and raised their target price for the company from $160.00 to $209.00 in a report on Monday, November 25th. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Finally, Morgan Stanley raised their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $170.69 and its 200-day moving average price is $169.51. The firm has a market cap of $402.85 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.69 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the company posted $1.83 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,080 shares of company stock worth $14,629,038. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC boosted its stake in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in Procter & Gamble in the 3rd quarter valued at approximately $5,705,000. Welch Group LLC increased its position in Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after buying an additional 2,990 shares in the last quarter. Swiss National Bank boosted its stake in shares of Procter & Gamble by 0.6% during the third quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after acquiring an additional 39,000 shares during the last quarter. Finally, Curi RMB Capital LLC increased its position in Procter & Gamble by 20.3% during the 3rd quarter. Curi RMB Capital LLC now owns 21,655 shares of the company’s stock worth $3,751,000 after purchasing an additional 3,652 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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.