Procter & Gamble (NYSE:PG) Trading Down 0.6% - Here's What Happened

Shares of The Procter & Gamble Company (NYSE:PG - Get Free Report) traded down 0.6% during trading on Friday . The company traded as low as $166.62 and last traded at $167.60. 1,495,349 shares were traded during mid-day trading, a decline of 80% from the average session volume of 7,527,751 shares. The stock had previously closed at $168.59.

Analysts Set New Price Targets

PG has been the topic of a number of research reports. Piper Sandler dropped 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. Barclays upped their price objective on Procter & Gamble from $155.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. UBS Group reiterated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wells Fargo & Company lifted their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.47.

Remove Ads

Procter & Gamble Trading Down 0.5 %

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 capitalization of $393.39 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.76 and a beta of 0.41. The firm has a 50-day moving average price of $167.21 and a 200-day moving average price of $169.82.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (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 for the quarter, compared to analyst estimates of $21.66 billion. During the same period in the previous year, the company earned $1.84 earnings per share. Procter & Gamble's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's payout ratio is 64.01%.

Insider Buying and Selling at Procter & Gamble

In related 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 value of $14,819,328.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, 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. Over the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PG. Lakeridge Wealth Management LLC grew its stake in Procter & Gamble by 0.6% during the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company's stock valued at $1,812,000 after acquiring an additional 60 shares in the last quarter. Colton Groome Financial Advisors LLC grew its position in Procter & Gamble by 3.2% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company's stock valued at $334,000 after purchasing an additional 62 shares in the last quarter. Kolinsky Wealth Management LLC increased its stake in Procter & Gamble by 1.1% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock valued at $962,000 after buying an additional 64 shares during the period. Retirement Planning Group LLC lifted its position in Procter & Gamble by 1.4% in the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company's stock worth $789,000 after buying an additional 64 shares in the last quarter. Finally, Tevis Investment Management boosted its stake in shares of Procter & Gamble by 0.6% during the 4th quarter. Tevis Investment Management now owns 11,633 shares of the company's stock valued at $1,950,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.