Procter & Gamble Co. (PG) Sets New 1-Year High at $85.95
Procter & Gamble Co. (NYSE:PG) shares reached a new 52-week high during trading on Monday . The stock traded as high as $85.95 and last traded at $85.91, with a volume of 3,026,164 shares. The stock had previously closed at $85.77.
PG has been the topic of several analyst reports. Vetr downgraded Procter & Gamble Co. from a “buy” rating to a “sell” rating and set a $76.92 price objective on the stock. in a report on Thursday, March 17th. Barclays PLC lifted their price objective on Procter & Gamble Co. from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, March 21st. Bank of America Corp. reissued a “buy” rating and issued a $89.00 target price on shares of Procter & Gamble Co. in a research note on Wednesday, March 23rd. Zacks Investment Research raised Procter & Gamble Co. from a “sell” rating to a “hold” rating in a research note on Monday, March 28th. Finally, B. Riley reissued a “neutral” rating and issued a $74.00 target price (down from $81.00) on shares of Procter & Gamble Co. in a research note on Wednesday, March 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.46.
The company has a market capitalization of $228.25 billion and a price-to-earnings ratio of 27.02. The firm’s 50 day moving average price is $83.18 and its 200 day moving average price is $81.51.
Procter & Gamble Co. (NYSE:PG) last issued its earnings results on Tuesday, April 26th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.81 billion. The business’s revenue was down 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Equities research analysts predict that Procter & Gamble Co. will post $3.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be given a dividend of $0.6695 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.12%.
In other news, insider Patrice Louvet sold 8,385 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $79.60, for a total transaction of $667,446.00. Following the transaction, the insider now directly owns 52,838 shares in the company, valued at $4,205,904.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gary A. Coombe sold 1,529 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $82.36, for a total transaction of $125,928.44. Following the transaction, the insider now owns 4,911 shares in the company, valued at $404,469.96. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the stock. Agran Libbie increased its stake in shares of Procter & Gamble Co. by 9,765.5% in the fourth quarter. Agran Libbie now owns 8,718,542 shares of the company’s stock valued at $6,923,000 after buying an additional 8,630,168 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Procter & Gamble Co. by 33.2% in the fourth quarter. Neuberger Berman Group LLC now owns 4,202,718 shares of the company’s stock valued at $333,738,000 after buying an additional 1,047,301 shares during the period. Russell Frank Co increased its stake in shares of Procter & Gamble Co. by 9.5% in the fourth quarter. Russell Frank Co now owns 4,505,241 shares of the company’s stock valued at $360,755,000 after buying an additional 392,539 shares during the period. BHF Kleinwort Benson Group S.A. purchased a new stake in shares of Procter & Gamble Co. during the fourth quarter valued at $29,782,000. Finally, I.G. Investment Management LTD. increased its stake in shares of Procter & Gamble Co. by 7.6% in the fourth quarter. I.G. Investment Management LTD. now owns 4,016,703 shares of the company’s stock valued at $318,966,000 after buying an additional 282,833 shares during the period.
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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