Procter & Gamble (NYSE:PG) Trading Down 0.4% – Here’s Why

The Procter & Gamble Company (NYSE:PG)’s share price dropped 0.4% during trading on Thursday . The company traded as low as $166.71 and last traded at $166.90. Approximately 853,297 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 6,696,123 shares. The stock had previously closed at $167.65.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PG. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Evercore ISI upped their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Friday, December 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The firm has a fifty day simple moving average of $170.21 and a two-hundred day simple moving average of $169.83. The firm has a market cap of $388.89 billion, a PE ratio of 28.47, a PEG ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. Equities analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is 69.31%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This represents a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,439 shares of company stock valued at $13,317,460. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble in the third quarter valued at approximately $33,000. Quest Partners LLC bought a new position in Procter & Gamble in the second quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Procter & Gamble during the 2nd quarter worth $44,000. 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.