The Procter & Gamble Company (NYSE:PG – Get Rating) – Equities research analysts at Jefferies Financial Group raised their Q2 2023 earnings per share estimates for Procter & Gamble in a report released on Wednesday, January 4th. Jefferies Financial Group analyst K. Grundy now anticipates that the company will earn $1.56 per share for the quarter, up from their prior estimate of $1.55. The consensus estimate for Procter & Gamble’s current full-year earnings is $5.83 per share. Jefferies Financial Group also issued estimates for Procter & Gamble’s Q4 2023 earnings at $1.35 EPS.
Several other research firms have also weighed in on PG. Morgan Stanley reduced their target price on Procter & Gamble from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Tuesday, October 4th. Raymond James lifted their target price on shares of Procter & Gamble from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. Wells Fargo & Company upped their price target on shares of Procter & Gamble from $155.00 to $168.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $143.00 price objective on the stock. in a research note on Sunday, October 9th. Finally, Wolfe Research started coverage on Procter & Gamble in a research note on Monday, November 21st. They set an “outperform” rating and a $156.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.36.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.02. The business had revenue of $20.61 billion for the quarter, compared to the consensus estimate of $20.37 billion. Procter & Gamble had a net margin of 18.11% and a return on equity of 32.66%. Procter & Gamble’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 21st were issued a $0.9133 dividend. This represents a $3.65 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, October 20th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is 63.26%.
In related news, CEO Sundar G. Raman sold 14,922 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $139.60, for a total value of $2,083,111.20. Following the sale, the chief executive officer now owns 12,310 shares of the company’s stock, valued at $1,718,476. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar G. Raman sold 9,922 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $145.00, for a total value of $1,438,690.00. Following the sale, the chief executive officer now owns 12,312 shares in the company, valued at approximately $1,785,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar G. Raman sold 14,922 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $139.60, for a total transaction of $2,083,111.20. Following the sale, the chief executive officer now owns 12,310 shares of the company’s stock, valued at approximately $1,718,476. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,812 shares of company stock worth $8,190,363. 0.26% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of PG. CFS Investment Advisory Services LLC boosted its stake in Procter & Gamble by 15,150.1% in the first quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock worth $642,000 after purchasing an additional 4,048,566 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Procter & Gamble by 22.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock worth $2,382,268,000 after buying an additional 3,054,844 shares in the last quarter. GQG Partners LLC grew its holdings in Procter & Gamble by 31.7% during the 1st quarter. GQG Partners LLC now owns 9,918,574 shares of the company’s stock worth $1,515,166,000 after acquiring an additional 2,386,691 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Procter & Gamble by 1.0% in the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after acquiring an additional 2,197,165 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Procter & Gamble by 1.1% during the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after purchasing an additional 1,811,085 shares in the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.
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.
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