Procter & Gamble (NYSE:PG) Announces Quarterly Earnings Results

Procter & Gamble (NYSE:PG) posted its earnings results on Friday. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10, Briefing.com reports. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. Procter & Gamble’s quarterly revenue was up .6% on a year-over-year basis. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Stock Up 0.5 %

Shares of NYSE:PG opened at $158.14 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.64. The company has a market cap of $372.11 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.23 and a beta of 0.44. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $163.14. The firm has a 50 day simple moving average of $159.14 and a 200 day simple moving average of $152.97.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.

Wall Street Analyst Weigh In

PG has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. The Goldman Sachs Group initiated coverage on shares of Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $168.53.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total value of $3,549,040.00. Following the transaction, the chief executive officer now owns 36,845 shares in the company, valued at approximately $5,943,835.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares in the company, valued at approximately $25,097,637.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the transaction, the chief executive officer now owns 36,845 shares in the company, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,063 shares of company stock worth $43,187,745. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PG. Aspect Partners LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth $35,000. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the 2nd quarter worth $50,000. MayTech Global Investments LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth $83,000. Fortis Capital Advisors LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth $109,000. Finally, Worth Asset Management LLC acquired a new position in shares of Procter & Gamble during the 1st quarter worth $111,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.