Procter & Gamble (NYSE:PG) Trading Down 0.8% - Here's What Happened

The Procter & Gamble Company (NYSE:PG - Get Free Report)'s share price dropped 0.8% on Friday . The stock traded as low as $170.74 and last traded at $170.99. Approximately 3,557,251 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 6,898,009 shares. The stock had previously closed at $172.39.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PG. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. UBS Group restated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Erste Group Bank raised shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Truist Financial lifted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus price target of $182.00.

Procter & Gamble Stock Performance

The firm has a market capitalization of $383.92 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a 50-day moving average of $169.17 and a 200-day moving average of $169.15. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

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Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion for the quarter, compared to analysts' expectations of $21.66 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's dividend payout ratio is presently 64.01%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the firm'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 transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company's stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently made changes to their positions in the stock. Howard Capital Management Group LLC raised its holdings in Procter & Gamble by 1.0% during the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company's stock worth $1,442,000 after buying an additional 82 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company's stock worth $820,031,000 after acquiring an additional 608,168 shares during the last quarter. United Bank lifted its position in Procter & Gamble by 1.7% in the 3rd quarter. United Bank now owns 13,367 shares of the company's stock valued at $2,315,000 after acquiring an additional 219 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in shares of Procter & Gamble in the third quarter worth approximately $201,000. Finally, EP Wealth Advisors LLC boosted its position in shares of Procter & Gamble by 5.3% during the third quarter. EP Wealth Advisors LLC now owns 103,424 shares of the company's stock valued at $17,913,000 after buying an additional 5,177 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

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.