Procter & Gamble Co. (PG) Sets New 52-Week High at $87.45
Procter & Gamble Co. (NYSE:PG)’s share price hit a new 52-week high on Friday . The stock traded as high as $87.45 and last traded at $86.96, with a volume of 4,734,656 shares. The stock had previously closed at $86.73.
PG has been the topic of several recent research reports. Jefferies Group reiterated a “buy” rating and issued a $95.00 price objective on shares of Procter & Gamble Co. in a research note on Thursday, June 23rd. Zacks Investment Research cut shares of Procter & Gamble Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Atlantic Securities initiated coverage on shares of Procter & Gamble Co. in a research note on Wednesday, June 1st. They set a “neutral” rating and a $84.00 target price on the stock. Deutsche Bank AG restated a “buy” rating and set a $92.00 target price (up previously from $85.00) on shares of Procter & Gamble Co. in a research note on Sunday, July 24th. Finally, Stifel Nicolaus raised their target price on shares of Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. Procter & Gamble Co. has an average rating of “Hold” and an average target price of $86.82.
The firm has a 50 day moving average of $85.34 and a 200-day moving average of $82.78. The firm has a market capitalization of $232.29 billion and a price-to-earnings ratio of 23.56.
Procter & Gamble Co. (NYSE:PG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.83 billion. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Analysts predict that Procter & Gamble Co. will post $3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 22nd will be paid a $0.6695 dividend. This represents a $2.68 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, July 20th.
In related news, insider Patrice Louvet sold 8,385 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $79.60, for a total value of $667,446.00. Following the completion of the transaction, the insider now directly owns 52,838 shares of the company’s stock, valued at approximately $4,205,904.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Valarie L. Sheppard sold 32,532 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $86.90, for a total value of $2,827,030.80. Following the completion of the transaction, the senior vice president now directly owns 28,397 shares of the company’s stock, valued at $2,467,699.30. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of PG. Autus Asset Management LLC increased its position in Procter & Gamble Co. by 3.0% in the fourth quarter. Autus Asset Management LLC now owns 16,466 shares of the company’s stock valued at $1,308,000 after buying an additional 486 shares in the last quarter. Calvert Investment Management Inc. increased its position in Procter & Gamble Co. by 13.9% in the fourth quarter. Calvert Investment Management Inc. now owns 317,967 shares of the company’s stock valued at $25,250,000 after buying an additional 38,864 shares in the last quarter. Bridgewater Associates LP purchased a new position in Procter & Gamble Co. during the fourth quarter valued at approximately $5,588,000. CORDA Investment Management LLC. increased its position in Procter & Gamble Co. by 7.4% in the fourth quarter. CORDA Investment Management LLC. now owns 230,586 shares of the company’s stock valued at $18,310,000 after buying an additional 15,909 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in Procter & Gamble Co. by 0.6% in the fourth quarter. Ancora Advisors LLC now owns 56,974 shares of the company’s stock valued at $5,190,000 after buying an additional 328 shares in the last quarter.
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
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