Procter & Gamble (NYSE:PG) Shares Down 1.4% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) shares dropped 1.4% during mid-day trading on Friday . The stock traded as low as $158.75 and last traded at $159.84. Approximately 2,286,284 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 5,811,508 shares. The stock had previously closed at $162.10.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Evercore ISI raised their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Morgan Stanley upped their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company decreased their price target on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $179.75.

Procter & Gamble Stock Down 2.1 %

The stock has a market cap of $373.82 billion, a P/E ratio of 27.37, a PEG ratio of 3.70 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $169.64 and a two-hundred day simple moving average of $169.59.

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

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $33,000. Quest Partners LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at $44,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

About Procter & Gamble

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.