Procter & Gamble (NYSE:PG) Shares Gap Up Following Analyst Upgrade

The Procter & Gamble Company (NYSE:PG - Get Free Report) shares gapped up before the market opened on Thursday after Truist Financial raised their price target on the stock from $180.00 to $185.00. The stock had previously closed at $169.50, but opened at $174.23. Truist Financial currently has a buy rating on the stock. Procter & Gamble shares last traded at $170.90, with a volume of 1,732,554 shares trading hands.

Other equities research analysts have also recently issued research reports about the stock. Barclays restated an "equal weight" rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Wells Fargo & Company boosted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. 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 Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Finally, DA Davidson restated a "buy" rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $182.00.

Remove Ads

Insider Buying and Selling

In other news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction 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 represents a 34.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary A. Coombe sold 35,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares of the company's stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $23,988,008 in the last 90 days. Company insiders own 0.18% of the company's stock.

Institutional Trading of Procter & Gamble

Hedge funds have recently bought and sold shares of the stock. NewSquare Capital LLC grew its stake in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Navigoe LLC purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at $31,000. Hoey Investments Inc. increased its position in shares of Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Trading Up 1.6 %

The stock has a 50-day simple moving average of $169.19 and a 200 day simple moving average of $169.29. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market cap of $403.71 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.34%. Procter & Gamble's dividend payout ratio (DPR) is presently 64.01%.

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.