Procter & Gamble (NYSE:PG) Shares Up 1.9% – Here’s What Happened

Procter & Gamble Company (The) (NYSE:PG) shares shot up 1.9% during trading on Thursday. The stock traded as high as $150.76 and last traded at $150.5980. 10,051,881 shares were traded during mid-day trading, an increase of 4% from the average session volume of 9,684,540 shares. The stock had previously closed at $147.82.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $149.00 target price on shares of Procter & Gamble in a report on Monday, August 24th. Royal Bank Of Canada lowered their target price on Procter & Gamble from $167.00 to $166.00 and set an “outperform” rating for the company in a research note on Tuesday. HSBC reaffirmed a “hold” rating and issued a $149.00 price target (down from $182.00) on shares of Procter & Gamble in a research note on Thursday, July 30th. Bank of America decreased their price objective on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Argus cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $161.70.

Procter & Gamble Price Performance

The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43. The company has a market cap of $349.79 billion, a PE ratio of 22.75, a P/E/G ratio of 3.69 and a beta of 0.39. The firm has a 50 day moving average of $145.68 and a two-hundred day moving average of $146.00.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $21.38 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Research analysts predict that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were paid a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 2.9%. Procter & Gamble’s payout ratio is presently 65.71%.

Insider Activity at Procter & Gamble

In other news, CFO Andre Schulten sold 3,914 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $145.34, for a total value of $568,860.76. Following the transaction, the chief financial officer owned 65,618 shares in the company, valued at approximately $9,536,920.12. This represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Susan Whaley sold 2,369 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $145.34, for a total transaction of $344,310.46. Following the sale, the insider owned 30,730 shares in the company, valued at approximately $4,466,298.20. The trade was a 7.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,135 shares of company stock worth $2,189,970 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baxter Bros Inc. purchased a new stake in shares of Procter & Gamble during the second quarter worth $12,381,000. Empowered Funds LLC purchased a new position in shares of Procter & Gamble in the second quarter worth about $53,549,000. Resources Management Corp CT ADV lifted its stake in shares of Procter & Gamble by 41.8% in the fourth quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company’s stock worth $11,681,000 after buying an additional 24,010 shares in the last quarter. Rokos Capital Management LLP acquired a new position in Procter & Gamble during the first quarter worth about $29,914,000. Finally, Bank of America Corp DE purchased a new stake in Procter & Gamble during the 2nd quarter valued at about $3,850,628,000. 65.77% of the stock is owned by institutional investors.

About Procter & Gamble

The Procter & Gamble Company (NYSE: PG) is a consumer products company that develops, manufactures and markets branded products used in households and personal care routines. Its portfolio includes products in categories such as beauty, grooming, health care, fabric and home care, and family care.

Major brands associated with Procter & Gamble include Pampers, Tide, Gillette, Head & Shoulders, Pantene, Oral-B, Crest, Olay, Old Spice, Febreze, Mr. Clean, Swiffer and Bounty. The company sells its products through retailers, e-commerce platforms and other distribution channels.

Founded in Cincinnati, Ohio, in 1837 by William Procter and James Gamble, the company has grown into a global consumer goods business serving customers in markets around the world.