Procter & Gamble (NYSE:PG) Shares Up 0.5% – Here’s Why

The Procter & Gamble Company (NYSE:PG)’s share price traded up 0.5% during trading on Tuesday . The stock traded as high as $162.61 and last traded at $161.35. 1,702,558 shares were traded during mid-day trading, a decline of 67% from the average session volume of 5,182,462 shares. The stock had previously closed at $160.60.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted 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. DA Davidson reiterated a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research report on Friday, December 27th. Evercore ISI raised their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a report on Monday, September 30th. Finally, Wells Fargo & Company dropped their price target on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Stock Up 0.5 %

The firm has a 50 day simple moving average of $170.03 and a two-hundred day simple moving average of $169.80. 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 stock has a market cap of $380.17 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its quarterly 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 company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period in the prior year, the business posted $1.83 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Insider Buying and Selling

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The sale 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 dated Thursday, October 24th. The stock was 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 $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock worth $13,317,460 in the last three months. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Large investors have recently made changes to their positions in the company. Fiera Capital Corp raised its holdings in shares of Procter & Gamble by 1,135.1% during the 2nd quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock worth $3,412,000 after buying an additional 19,013 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Procter & Gamble by 391.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 289,175 shares of the company’s stock worth $477,000 after acquiring an additional 230,374 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $68,000. Adapt Wealth Advisors LLC boosted its holdings in Procter & Gamble by 22.7% during the second quarter. Adapt Wealth Advisors LLC now owns 2,560 shares of the company’s stock worth $422,000 after purchasing an additional 474 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Procter & Gamble in the 2nd quarter worth about $36,000. 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.