Procter & Gamble (NYSE:PG) Shares Down 1.1% – Here’s What Happened

Procter & Gamble Company (The) (NYSE:PG)’s stock price was down 1.1% on Thursday . The stock traded as low as $142.24 and last traded at $142.3290. Approximately 6,160,302 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 11,770,663 shares. The stock had previously closed at $143.92.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PG shares. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $157.00 to $165.00 in a research report on Friday, January 23rd. UBS Group increased their price objective on Procter & Gamble from $161.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. BNP Paribas Exane lowered their target price on Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Rothschild & Co Redburn lifted their target price on Procter & Gamble from $155.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Piper Sandler assumed coverage on Procter & Gamble in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $150.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.33.

Procter & Gamble Stock Down 1.1%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72. The company has a market cap of $330.77 billion, a P/E ratio of 21.09, a P/E/G ratio of 4.79 and a beta of 0.37. The stock has a 50 day moving average price of $154.01 and a 200 day moving average price of $150.36.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The business had revenue of $22.21 billion during the quarter, compared to analysts’ expectations of $22.36 billion. During the same quarter last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were paid a $1.0568 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a dividend yield of 3.0%. Procter & Gamble’s payout ratio is currently 62.52%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 1,809 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $159.46, for a total value of $288,463.14. Following the transaction, the insider owned 30,215 shares of the company’s stock, valued at approximately $4,818,083.90. This represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jon R. Moeller sold 162,232 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.45, for a total value of $26,354,588.40. Following the sale, the chairman owned 319,385 shares of the company’s stock, valued at $51,884,093.25. This trade represents a 33.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 348,618 shares of company stock worth $55,462,643. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Hedge funds have recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Procter & Gamble in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Procter & Gamble by 1,000.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Park Square Financial Group LLC lifted its position in shares of Procter & Gamble by 65.1% in the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. Evolution Wealth Management Inc. lifted its position in shares of Procter & Gamble by 1,315.4% in the 4th quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Finally, Litman Gregory Wealth Management LLC acquired a new position in Procter & Gamble in the 4th quarter worth approximately $26,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.