Procter & Gamble (NYSE:PG) Trading 1.6% Higher – Here’s Why

The Procter & Gamble Company (NYSE:PG)’s share price was up 1.6% during trading on Monday . The company traded as high as $171.09 and last traded at $170.66. Approximately 2,150,720 shares changed hands during trading, a decline of 66% from the average daily volume of 6,397,558 shares. The stock had previously closed at $167.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays upped their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Piper Sandler cut their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. UBS Group restated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.47.

Procter & Gamble Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The company has a fifty day moving average of $167.27 and a 200 day moving average of $169.81. The firm has a market capitalization of $399.00 billion, a P/E ratio of 27.11, a PEG ratio of 3.76 and a beta of 0.41.

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

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s payout ratio is currently 64.01%.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock worth $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lakeridge Wealth Management LLC grew its position in Procter & Gamble by 0.6% during the fourth quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock valued at $1,812,000 after buying an additional 60 shares during the period. Colton Groome Financial Advisors LLC lifted its position in Procter & Gamble by 3.2% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company’s stock valued at $334,000 after purchasing an additional 62 shares in the last quarter. Kolinsky Wealth Management LLC grew its holdings in Procter & Gamble by 1.1% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock valued at $962,000 after purchasing an additional 64 shares during the period. Retirement Planning Group LLC lifted its position in shares of Procter & Gamble by 1.4% during the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock valued at $789,000 after buying an additional 64 shares in the last quarter. Finally, Tevis Investment Management grew its stake in shares of Procter & Gamble by 0.6% during the 4th quarter. Tevis Investment Management now owns 11,633 shares of the company’s stock valued at $1,950,000 after acquiring an additional 65 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

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.