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

The Procter & Gamble Company (NYSE:PG)’s share price fell 0.2% during trading on Wednesday . The company traded as low as $169.02 and last traded at $169.98. 1,036,995 shares were traded during 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 Analyst Weigh In

A number of research analysts have issued reports on PG shares. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. 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 target price on the stock. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $180.45.

Procter & Gamble Stock Up 0.1 %

The firm has a market cap of $398.45 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44. 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 stock has a fifty day simple moving average of $170.86 and a two-hundred day simple moving average of $169.74.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 2.38%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is 69.31%.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % 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, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was 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 approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock worth $14,629,038 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC grew its position in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Copley Financial Group Inc. purchased a new stake in shares of Procter & Gamble in the 3rd quarter valued at $668,000. Synovus Financial Corp grew its holdings in shares of Procter & Gamble by 3.4% during the 3rd 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 during the last quarter. Radnor Capital Management LLC purchased a new position in Procter & Gamble in the 3rd quarter worth $5,705,000. Finally, Welch Group LLC lifted its stake in Procter & Gamble by 0.9% in the third 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 during the last quarter. 65.77% of the stock is currently owned by institutional investors.

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.