Procter & Gamble (NYSE:PG) Trading 0.1% Higher – Here’s Why

The Procter & Gamble Company (NYSE:PG)’s share price traded up 0.1% during mid-day trading on Tuesday . The company traded as high as $179.01 and last traded at $177.52. 1,645,392 shares were traded during trading, a decline of 76% from the average session volume of 6,721,701 shares. The stock had previously closed at $177.39.

Analyst Upgrades and Downgrades

PG has been the topic of several recent research reports. DA Davidson raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and raised their target price for the company from $160.00 to $209.00 in a research note on Monday. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $180.45.

Procter & Gamble Stock Performance

The stock’s 50 day moving average is $170.22 and its two-hundred day moving average is $168.90. The stock has a market capitalization of $422.35 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 3.82 and a beta of 0.42. 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 posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that The Procter & Gamble Company will post 6.96 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the transaction, the insider now owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,233 shares of company stock valued at $6,024,234. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds and other institutional investors have recently made changes to their positions in PG. Concurrent Investment Advisors LLC increased its stake in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Procter & Gamble during the third quarter worth approximately $5,705,000. Welch Group LLC raised its stake in Procter & Gamble by 0.9% in the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after buying an additional 2,990 shares during the period. Swiss National Bank lifted its position in shares of Procter & Gamble by 0.6% in the third quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after buying an additional 39,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after acquiring an additional 10,777 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

About Procter & Gamble

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.