Procter & Gamble (NYSE:PG) Trading 0.3% Higher – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) shares shot up 0.3% during mid-day trading on Thursday . The company traded as high as $167.60 and last traded at $166.66. 935,229 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 7,303,860 shares. The stock had previously closed at $166.23.

Analyst Ratings Changes

PG has been the topic of several research analyst reports. Barclays raised their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI boosted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $180.53.

Procter & Gamble Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $394.31 billion, a PE ratio of 26.66, a PEG ratio of 3.69 and a beta of 0.45. The firm’s fifty day moving average price is $168.65 and its 200 day moving average price is $169.39.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 18.35%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. On average, research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is 64.17%.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction that occurred on 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 owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,097 shares of company stock worth $25,635,076. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Several large investors have recently bought and sold shares of PG. RPg Family Wealth Advisory LLC acquired a new position in shares of Procter & Gamble in the third quarter valued at $33,000. Bay Harbor Wealth Management LLC raised its stake in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after buying an additional 243 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $46,000. Costello Asset Management INC increased its stake in Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares during the period. Finally, DecisionPoint Financial LLC raised its position in Procter & Gamble by 46.7% in the fourth quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $55,000 after purchasing an additional 105 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

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.