Procter & Gamble (NYSE:PG) Shares Down 1.8% – Here’s Why

Procter & Gamble Company (The) (NYSE:PG)’s stock price traded down 1.8% on Wednesday . The stock traded as low as $151.43 and last traded at $153.2410. 8,746,004 shares were traded during mid-day trading, a decline of 24% from the average session volume of 11,471,907 shares. The stock had previously closed at $156.01.

Wall Street Analysts Forecast Growth

Several research firms have commented on PG. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Procter & Gamble from $176.00 to $171.00 and set a “buy” rating for the company in a report on Monday, December 8th. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Wednesday, January 7th. They set a “neutral” rating and a $150.00 price objective for the company. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their price objective for the stock from $156.00 to $179.00 in a report on Tuesday, December 16th. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $157.00 to $165.00 in a research report on Friday, January 23rd. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $177.00 target price on shares of Procter & Gamble in a research note on Tuesday, February 17th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $168.33.

Procter & Gamble Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. The company has a 50-day simple moving average of $152.80 and a 200-day simple moving average of $151.06. The stock has a market cap of $356.13 billion, a PE ratio of 22.70, a PEG ratio of 5.19 and a beta of 0.37.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, January 23rd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The company had revenue of $22.21 billion for the quarter, compared to analyst estimates of $22.36 billion. During the same period in the previous year, the firm earned $1.88 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were given a $1.0568 dividend. The ex-dividend date was Friday, January 23rd. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. Procter & Gamble’s dividend payout ratio (DPR) is currently 62.52%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 5,549 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $165.29, for a total transaction of $917,194.21. Following the completion of the transaction, the chief executive officer directly owned 1,029 shares in the company, valued at approximately $170,083.41. This trade represents a 84.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Street Whaley sold 1,809 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $159.46, for a total transaction of $288,463.14. Following the completion of the sale, the insider directly owned 30,215 shares in the company, valued at $4,818,083.90. This trade represents a 5.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 348,618 shares of company stock worth $55,462,643. 0.20% of the stock is owned by company insiders.

Institutional Trading of Procter & Gamble

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Carson Advisory Inc. raised its stake in Procter & Gamble by 0.5% in the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company’s stock valued at $1,738,000 after purchasing an additional 65 shares during the last quarter. WP Advisors LLC grew its holdings in shares of Procter & Gamble by 4.9% during the second quarter. WP Advisors LLC now owns 1,405 shares of the company’s stock worth $224,000 after buying an additional 66 shares in the last quarter. Trilogy Capital Inc. raised its position in shares of Procter & Gamble by 1.1% in the fourth quarter. Trilogy Capital Inc. now owns 6,289 shares of the company’s stock valued at $901,000 after buying an additional 67 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Procter & Gamble by 1.8% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company’s stock valued at $549,000 after buying an additional 67 shares during the period. Finally, Emprise Bank lifted its stake in shares of Procter & Gamble by 2.5% during the third quarter. Emprise Bank now owns 2,766 shares of the company’s stock valued at $425,000 after buying an additional 68 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.