Procter & Gamble (NYSE:PG) Shares Down 0% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) fell 0% during mid-day trading on Thursday . The company traded as low as $167.35 and last traded at $169.03. 1,404,281 shares changed hands during trading, a decline of 79% from the average session volume of 6,661,686 shares. The stock had previously closed at $169.08.

Wall Street Analyst Weigh In

PG has been the topic of several research reports. Barclays lowered 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. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. DA Davidson raised Procter & Gamble from a “neutral” rating to a “buy” rating and raised their price objective for the company from $160.00 to $209.00 in a research note on Monday, November 25th. Finally, Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Stock Up 0.5 %

The stock has a 50-day moving average of $170.86 and a 200-day moving average of $169.74. The firm has a market cap of $400.10 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the previous year, the business earned $1.83 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s payout ratio is presently 69.31%.

Insider Activity

In related news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,080 shares of company stock worth $14,629,038. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several institutional investors have recently added to or reduced their stakes in PG. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble in the 2nd quarter valued at $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble during the second quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $33,000. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $34,000. Finally, Quest Partners LLC bought a new stake in Procter & Gamble during the 2nd quarter valued at $36,000. 65.77% of the stock is owned by institutional investors.

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.