Procter & Gamble (NYSE:PG) Stock Price Up 1.2% – Here’s What Happened

Shares of The Procter & Gamble Company (NYSE:PG) shot up 1.2% on Friday . The company traded as high as $169.48 and last traded at $169.05. 2,487,238 shares traded hands during trading, a decline of 63% from the average session volume of 6,641,190 shares. The stock had previously closed at $167.08.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. DA Davidson increased their price objective on shares of Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 21st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. Finally, TD Cowen initiated coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Trading Up 1.7 %

The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $170.44 and a two-hundred day simple moving average of $168.27. The firm has a market capitalization of $400.10 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 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 business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the firm posted $1.83 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Transactions at Procter & Gamble

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon R. Moeller sold 87,979 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.40, for a total value of $14,991,621.60. Following the sale, the chief executive officer now owns 300,777 shares in the company, valued at approximately $51,252,400.80. The trade was a 22.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,597 shares of company stock valued at $53,268,499 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Several large investors have recently made changes to their positions in PG. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the 2nd quarter valued at $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at approximately $33,000. POM Investment Strategies LLC acquired a new position in Procter & Gamble in the second quarter valued at approximately $34,000. Finally, Quest Partners LLC acquired a new stake in Procter & Gamble during the second quarter worth $36,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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.