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

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

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $154.39 on Friday. The company has a market capitalization of $363.28 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.21 and a beta of 0.44. The firm’s 50-day moving average is $159.13 and its 200 day moving average is $152.83. Procter & Gamble has a 12 month low of $141.45 and a 12 month high of $163.14. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.61%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is currently 62.98%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PG. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays boosted their price target on shares of Procter & Gamble from $165.00 to $168.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada upped their price target on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $168.53.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total value of $3,549,040.00. Following the completion of the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gary A. Coombe sold 22,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at $5,943,835.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 776 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, the chief executive officer now owns 4,859 shares of the company’s stock, valued at $768,256.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,063 shares of company stock worth $43,187,745. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors have recently bought and sold shares of PG. Axiom Financial Strategies LLC lifted its holdings in shares of Procter & Gamble by 7.0% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after buying an additional 113 shares during the period. AMI Investment Management Inc. boosted its position in Procter & Gamble by 7.2% in the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after purchasing an additional 233 shares in the last quarter. LSV Asset Management grew its stake in shares of Procter & Gamble by 5.7% during the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock worth $2,842,000 after purchasing an additional 1,000 shares during the period. Ergoteles LLC purchased a new position in shares of Procter & Gamble during the 1st quarter valued at approximately $3,073,000. Finally, Wsfs Capital Management LLC lifted its stake in shares of Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after purchasing an additional 455 shares during the period. 65.77% of the stock is owned by hedge funds and other 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.