The Procter & Gamble Company (NYSE:PG) Declares Quarterly Dividend of $1.06

The Procter & Gamble Company (NYSE:PG) declared a quarterly dividend on Tuesday, April 8th, RTT News reports. Investors of record on Monday, April 21st will be paid a dividend of 1.0568 per share on Thursday, May 15th. This represents a $4.23 dividend on an annualized basis and a yield of 2.68%. This is a 5.0% increase from Procter & Gamble’s previous quarterly dividend of $1.01.

Procter & Gamble has raised its dividend payment by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 69 years. Procter & Gamble has a payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Procter & Gamble to earn $7.34 per share next year, which means the company should continue to be able to cover its $4.03 annual dividend with an expected future payout ratio of 54.9%.

Procter & Gamble Stock Down 1.5 %

Shares of NYSE:PG traded down $2.38 on Tuesday, reaching $157.85. The company had a trading volume of 11,394,396 shares, compared to its average volume of 6,987,862. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $370.14 billion, a PE ratio of 25.14, a PEG ratio of 3.76 and a beta of 0.43. Procter & Gamble has a 52-week low of $153.52 and a 52-week high of $180.43. The firm’s 50 day simple moving average is $168.98 and its 200-day simple moving average is $169.04.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period last year, the firm earned $1.84 earnings per share. Procter & Gamble’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts expect that Procter & Gamble will post 6.91 earnings per share for the current fiscal year.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares in the company, valued at $3,785,274.66. This represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $23,988,008 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Procter & Gamble stock. Brighton Jones LLC grew its stake in The Procter & Gamble Company (NYSE:PG) by 51.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,068 shares of the company’s stock after purchasing an additional 13,617 shares during the quarter. Brighton Jones LLC’s holdings in Procter & Gamble were worth $6,717,000 as of its most recent filing with the SEC. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler cut their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Finally, Erste Group Bank raised Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.00.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.