Procter & Gamble (NYSE:PG) Shares Down 0.2% - Here's What Happened

The Procter & Gamble Company (NYSE:PG - Get Free Report) was down 0.2% on Tuesday . The company traded as low as $169.66 and last traded at $170.34. Approximately 988,316 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 6,651,482 shares. The stock had previously closed at $170.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 target price for the company. Wolfe Research raised Procter & Gamble to a "strong-buy" rating in a research report on Friday, August 23rd. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and a consensus price target of $177.00.

Procter & Gamble Stock Down 0.2 %

The company has a fifty day moving average of $170.21 and a two-hundred day moving average of $168.45. The company has a market cap of $401.32 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company's revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 EPS. As a group, analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble's dividend payout ratio is presently 69.48%.

Insider Activity

In other news, CEO Jon R. Moeller sold 87,979 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.40, for a total value of $14,991,621.60. Following the transaction, the chief executive officer now owns 300,777 shares in the company, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 approximately $2,332,570. This trade represents a 87.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,727 shares of company stock valued at $46,014,037. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $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 purchased a new position in Procter & Gamble in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

About Procter & Gamble

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.

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