Procter & Gamble (NYSE:PG) Hits New 52-Week High – Should You Buy?

Shares of Procter & Gamble Company (The) (NYSE:PG) hit a new 52-week high during trading on Wednesday. The stock traded as high as $167.86 and last traded at $167.6110, with a volume of 4,262,512 shares trading hands. The stock had previously closed at $162.06.

Trending Headlines about Procter & Gamble

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: Recent coverage points to P&G’s essential household brands as relatively resilient in an uncertain economy. Its long record of annual dividend increases—70 consecutive years—may also appeal to income-focused investors, particularly as inflation erodes purchasing power. Article: Nike vs. Procter & Gamble Article: P&G dividend history
• Neutral Sentiment: P&G closed a €3.25 billion euro-note offering. It raises financing, but the report does not explain the intended use of proceeds; the notes also represent debt obligations. Article: Euro note offering
• Negative Sentiment: Coverage warns that rising costs and shoppers’ search for value could pressure growth in P&G’s premium brands, despite customer loyalty and product innovation. Article: Premium brands in a value-seeking market
• Negative Sentiment: Several executives, including CEO Paul Gama and the chief accounting officer, disclosed share sales. Insider sales can weigh on sentiment, though they do not by themselves indicate the company’s outlook. Article: CEO share sale

Analysts Set New Price Targets

A number of analysts have recently weighed in on PG shares. Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $164.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. UBS Group set a $166.00 target price on shares of Procter & Gamble in a research note on Friday, October 23rd. BNP Paribas Exane lifted their target price on shares of Procter & Gamble from $177.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Barclays increased their target price on Procter & Gamble from $152.00 to $165.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Finally, Citigroup raised their target price on Procter & Gamble from $180.00 to $187.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.57.

Procter & Gamble Price Performance

The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $150.68 and its 200 day moving average price is $149.12. The firm has a market cap of $388.32 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.02 and a beta of 0.36.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.11. The firm had revenue of $23.28 billion for the quarter, compared to analyst estimates of $22.80 billion. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 earnings per share. Equities research analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be issued a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Shailesh Jejurikar sold 35,000 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $163.09, for a total value of $5,708,150.00. Following the completion of the transaction, the chief executive officer directly owned 55,391 shares in the company, valued at approximately $9,033,718.19. This represents a 38.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victor Aguilar sold 18,812 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $164.43, for a total value of $3,093,257.16. Following the completion of the transaction, the insider directly owned 55,243 shares of the company’s stock, valued at approximately $9,083,606.49. This trade represents a 25.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 128,085 shares of company stock valued at $20,696,098 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baxter Bros Inc. acquired a new stake in Procter & Gamble in the 2nd quarter valued at $12,381,000. Empowered Funds LLC bought a new stake in Procter & Gamble in the second quarter valued at $53,549,000. Bank of America Corp DE acquired a new position in Procter & Gamble during the second quarter worth $3,850,628,000. Capstone Capital Management Ltd acquired a new position in Procter & Gamble during the third quarter worth $991,000. Finally, Rokos Capital Management LLP acquired a new position in Procter & Gamble during the first quarter worth $29,914,000. 65.77% of the stock is owned by institutional investors.

About Procter & Gamble

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.