Procter & Gamble (NYSE:PG) Hits New 1-Year Low After Earnings Miss

Shares of The Procter & Gamble Company (NYSE:PG) hit a new 52-week low on Friday following a dissappointing earnings announcement. The company traded as low as $156.58 and last traded at $159.59, with a volume of 20063484 shares traded. The stock had previously closed at $165.73.

The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The company had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. During the same quarter in the previous year, the firm posted $1.52 earnings per share.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Monday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is 66.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. DA Davidson reissued a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Truist Financial dropped their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Friday. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an “overweight” rating in a report on Friday. Finally, Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.79.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Procter & Gamble by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock valued at $38,524,976,000 after buying an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock worth $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank acquired a new position in shares of Procter & Gamble during the 4th quarter valued at about $5,244,463,000. Northern Trust Corp grew its holdings in Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Procter & Gamble by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock worth $3,386,194,000 after buying an additional 1,209,275 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.9 %

The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $168.16 and its 200-day moving average is $168.32. The firm has a market capitalization of $377.61 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.76 and a beta of 0.43.

Procter & Gamble Company Profile

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.