Procter & Gamble (NYSE:PG) Stock Price Down 0.2% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG)’s stock price fell 0.2% during trading on Wednesday . The stock traded as low as $169.02 and last traded at $169.98. 1,036,995 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 6,657,775 shares. The stock had previously closed at $170.33.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PG. DA Davidson raised Procter & Gamble from a “neutral” rating to a “buy” rating and upped their target price for the company from $160.00 to $209.00 in a research report on Monday, November 25th. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Trading Up 0.1 %

The business’s fifty day moving average is $170.86 and its 200-day moving average is $169.74. 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 market cap of $398.45 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44.

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, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed 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 2.38%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.31%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,080 shares of company stock valued at $14,629,038. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PG. Concurrent Investment Advisors LLC raised its position in Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares during the last quarter. Copley Financial Group Inc. purchased a new stake in shares of Procter & Gamble in the third quarter valued at about $668,000. Synovus Financial Corp lifted its position in shares of Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Procter & Gamble during the third quarter worth about $5,705,000. Finally, Welch Group LLC grew its position in Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after purchasing an additional 2,990 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.