Procter & Gamble (NYSE:PG) Stock Price Down 0% – Here’s What Happened

Shares of The Procter & Gamble Company (NYSE:PG) were down 0% on Thursday . The company traded as low as $167.35 and last traded at $169.03. Approximately 1,404,281 shares changed hands during trading, a decline of 79% from the average daily volume of 6,661,686 shares. The stock had previously closed at $169.08.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PG shares. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock has a market cap of $395.79 billion, a P/E ratio of 28.98, a P/E/G ratio of 3.70 and a beta of 0.44. The business’s 50-day moving average price is $170.80 and its 200-day moving average price is $169.76.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock valued at $14,629,038 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble during the 2nd quarter valued at $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the third quarter valued at about $33,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble in the second quarter worth about $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $36,000. 65.77% of the stock is currently owned by institutional investors.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.