Procter & Gamble (NYSE:PG) Stock Price Down 0.7% - Here's Why

The Procter & Gamble Company (NYSE:PG - Get Free Report) was down 0.7% during trading on Friday . The company traded as low as $166.24 and last traded at $166.45. Approximately 4,008,907 shares changed hands during trading, a decline of 38% from the average daily volume of 6,429,379 shares. The stock had previously closed at $167.55.

Wall Street Analysts Forecast Growth

PG has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays raised their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Piper Sandler reduced their price target on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Finally, Stifel Nicolaus raised their price objective on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $181.47.

Remove Ads

Procter & Gamble Stock Up 2.2 %

The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $390.38 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The business has a 50-day moving average price of $168.17 and a 200-day moving average price of $169.49.

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

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 dividend yield of 2.42%. The ex-dividend date was Friday, January 24th. Procter & Gamble's dividend payout ratio is presently 64.01%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated 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 completion of the sale, the insider now directly owns 172,814 shares of the company's stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary A. Coombe sold 18,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA raised its stake in Procter & Gamble by 0.9% during the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock worth $38,833,000 after acquiring an additional 2,179 shares in the last quarter. Strategic Advisors LLC lifted its stake in Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company's stock valued at $9,374,000 after buying an additional 1,818 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Procter & Gamble in the third quarter valued at approximately $668,000. Fortem Financial Group LLC purchased a new position in shares of Procter & Gamble during the fourth quarter worth approximately $569,000. Finally, Richard C. Young & CO. LTD. raised its position in Procter & Gamble by 2.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company's stock valued at $20,764,000 after purchasing an additional 2,568 shares during the last quarter. 65.77% of the stock is 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.