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

The Procter & Gamble Company (NYSE:PG) shares shot up 0.5% during trading on Thursday . The stock traded as high as $162.40 and last traded at $162.07. 4,971,857 shares were traded during trading, a decline of 24% from the average session volume of 6,561,916 shares. The stock had previously closed at $161.30.

Analyst Ratings Changes

A number of brokerages have commented on PG. 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 price target for the company. Wells Fargo & Company dropped their price objective on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Evercore ISI raised their target price 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. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.75.

Procter & Gamble Trading Up 0.5 %

The company has a market cap of $381.68 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. 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 business’s fifty day moving average price is $169.83 and its 200 day moving average price is $169.70.

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, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 earnings per share. Research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the 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 owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the 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 in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,439 shares of company stock valued at $13,317,460. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently modified their holdings of PG. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after acquiring an additional 3,619,466 shares during the period. FMR LLC lifted its holdings in Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after buying an additional 689,282 shares during the period. Legal & General Group Plc lifted its holdings in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the period. Franklin Resources Inc. lifted its holdings in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Procter & Gamble by 4.7% in the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the period. 65.77% of the stock is currently owned by institutional investors.

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.