Procter & Gamble (NYSE:PG) Stock Price Up 0.5% – What’s Next?

Shares of The Procter & Gamble Company (NYSE:PG) were up 0.5% on Wednesday . The stock traded as high as $169.18 and last traded at $168.94. Approximately 2,460,756 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 6,738,386 shares. The stock had previously closed at $168.11.

Analyst Upgrades and Downgrades

PG has been the subject of several recent research reports. Evercore ISI boosted their target price 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. 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. Morgan Stanley upped their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Stock Up 0.5 %

The stock’s 50-day simple moving average is $170.62 and its 200 day simple moving average is $169.82. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm has a market cap of $397.86 billion, a P/E ratio of 29.13, a PEG ratio of 3.70 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the previous year, the company earned $1.83 EPS. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble 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 completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock valued at $14,629,038 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble in the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble during the third quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of Procter & Gamble during the second quarter valued at approximately $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Procter & Gamble in the second quarter worth $44,000. 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.