Procter & Gamble (NYSE:PG) Stock Price Down 0.8% – Here’s What Happened

by · The Cerbat Gem

The Procter & Gamble Company (NYSE:PG – Get Free Report)’s stock price fell 0.8% during mid-day trading on Friday . The stock traded as low as $170.74 and last traded at $170.99. 3,557,251 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 6,898,009 shares. The stock had previously closed at $172.39.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. DA Davidson restated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial raised their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler cut their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Get Our Latest Stock Analysis on PG

Procter & Gamble Stock Down 5.0 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a market capitalization of $383.92 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The business has a fifty day moving average price of $169.19 and a two-hundred day moving average price of $169.29.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 EPS. On average, equities analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,450 shares of company stock worth $23,988,008. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in Procter & Gamble in the 4th quarter valued at $5,244,463,000. Raymond James Financial Inc. purchased a new position in Procter & Gamble in the 4th quarter valued at about $1,010,685,000. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

About Procter & Gamble

(Get Free Report)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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