Procter & Gamble (NYSE:PG) Trading Down 1.4% – Here’s Why

The Procter & Gamble Company (NYSE:PG)’s share price was down 1.4% on Friday . The company traded as low as $158.75 and last traded at $159.84. Approximately 2,286,284 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 5,811,508 shares. The stock had previously closed at $162.10.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PG. JPMorgan Chase & Co. upped their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Evercore ISI upped their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research report on Monday, September 30th. Eight research 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’s stock. Based on data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Stock Down 1.9 %

The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $169.77 and a two-hundred day simple moving average of $169.64. The company has a market cap of $374.38 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm 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 firm posted $1.83 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock worth $13,317,460 in the last ninety days. Insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

Hedge funds and other institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC raised its holdings in shares of 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 period. Copley Financial Group Inc. acquired a new position in shares of Procter & Gamble in the third quarter valued at approximately $668,000. Fortem Financial Group LLC purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $569,000. Synovus Financial Corp lifted its holdings in Procter & Gamble by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after buying an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Procter & Gamble by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after acquiring an additional 201,695 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

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.