Procter & Gamble (NYSE:PG) Stock Price Down 0.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

PG has been the subject of several analyst reports. DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Friday, December 27th. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Evercore ISI increased their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Trading Down 0.5 %

The firm’s 50 day moving average price is $170.34 and its 200-day moving average price is $169.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a market cap of $392.84 billion, a P/E ratio of 28.76, a P/E/G ratio of 3.70 and a beta of 0.44.

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

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Insider Activity

In related news, CEO R. Alexandra Keith sold 1,992 shares of the firm’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 approximately $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the company’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 sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procter & Gamble

A number of hedge funds have recently modified their holdings of PG. Geode Capital Management LLC increased 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 acquiring an additional 3,619,466 shares in the last quarter. FMR LLC increased its stake in shares of Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after purchasing an additional 689,282 shares in the last quarter. Legal & General Group Plc raised its position in shares of Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares during the period. Franklin Resources Inc. lifted its stake in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Procter & Gamble by 4.7% in the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after buying an additional 830,476 shares during the period. Institutional investors 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.