Procter & Gamble (NYSE:PG) Updates FY 2024 Earnings Guidance

Procter & Gamble (NYSE:PG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.490-6.550 for the period, compared to the consensus earnings per share estimate of 6.450. The company issued revenue guidance of $83.6 billion-$85.3 billion, compared to the consensus revenue estimate of $84.7 billion.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PG. Royal Bank of Canada boosted their price target on shares of Procter & Gamble from $156.00 to $157.00 and gave the stock a sector perform rating in a research note on Wednesday, January 24th. Barclays upped their target price on shares of Procter & Gamble from $165.00 to $168.00 and gave the stock an overweight rating in a research report on Friday, April 12th. StockNews.com lowered shares of Procter & Gamble from a buy rating to a hold rating in a research report on Thursday, February 29th. Wells Fargo & Company increased their price target on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Finally, Raymond James increased their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of Moderate Buy and an average target price of $168.53.

Procter & Gamble Trading Up 0.5 %

Procter & Gamble stock opened at $158.02 on Friday. The firm’s 50-day moving average is $159.14 and its 200-day moving average is $152.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.64. Procter & Gamble has a 1 year low of $141.45 and a 1 year high of $163.14. The company has a market cap of $371.82 billion, a P/E ratio of 26.47, a PEG ratio of 3.22 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.37 EPS. On average, equities analysts expect that Procter & Gamble will post 6.45 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 67.50%.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total value of $3,549,040.00. Following the completion of the sale, the chief executive officer now directly owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Marc S. Pritchard sold 101,704 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the sale, the insider now owns 163,428 shares in the company, valued at $25,097,637.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now owns 36,845 shares in the company, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last three months, insiders sold 279,063 shares of company stock valued at $43,187,745. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Procter & Gamble by 1.1% in the first quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock worth $6,936,343,000 after acquiring an additional 510,559 shares in the last quarter. Morgan Stanley grew its position in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after buying an additional 38,495,676 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter worth $3,752,321,000. Finally, Legal & General Group Plc boosted its holdings in shares of Procter & Gamble by 27.3% during the 4th quarter. Legal & General Group Plc now owns 20,619,426 shares of the company’s stock worth $3,021,573,000 after buying an additional 4,426,269 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.