Procter & Gamble (NYSE:PG) Posts Earnings Results, Beats Expectations By $0.10 EPS

Procter & Gamble (NYSE:PG) issued its quarterly earnings results on Friday. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10, Briefing.com reports. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $153.85 on Friday. The company has a fifty day moving average price of $159.13 and a 200 day moving average price of $152.83. The firm has a market cap of $362.01 billion, a PE ratio of 26.33, a PEG ratio of 3.21 and a beta of 0.44. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $163.14.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PG. Royal Bank of Canada upped their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 24th. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their price objective for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company upped their price objective on Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.53.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the sale, the insider now owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the transaction, the insider now owns 11,886 shares in the company, valued at $1,908,891.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 22,000 shares of Procter & Gamble stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the sale, the chief executive officer now owns 36,845 shares in the company, valued at $5,943,835.40. The disclosure for this sale can be found here. Insiders have sold 279,063 shares of company stock valued at $43,187,745 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PG. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 1.1% in the first quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock valued at $6,936,343,000 after buying an additional 510,559 shares in the last quarter. Morgan Stanley lifted its stake in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Procter & Gamble by 96,526.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after acquiring an additional 38,495,676 shares during the period. Norges Bank acquired a new position in shares of Procter & Gamble during the 4th quarter worth about $3,752,321,000. Finally, Legal & General Group Plc raised its holdings in shares of Procter & Gamble by 27.3% in the 4th quarter. Legal & General Group Plc now owns 20,619,426 shares of the company’s stock valued at $3,021,573,000 after purchasing an additional 4,426,269 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.