Traders Buy Shares of Procter & Gamble Co. (PG) on Weakness
Investors purchased shares of Procter & Gamble Co. (NYSE:PG) on weakness during trading hours on Thursday. $96.69 million flowed into the stock on the tick-up and $73.36 million flowed out of the stock on the tick-down, for a money net flow of $23.33 million into the stock. Of all equities tracked, Procter & Gamble Co. had the 21st highest net in-flow for the day. Procter & Gamble Co. traded down ($0.06) for the day and closed at $85.26
PG has been the topic of a number of recent research reports. Jefferies Group restated a “buy” rating and set a $95.00 price target on shares of Procter & Gamble Co. in a report on Thursday, June 23rd. Goldman Sachs Group Inc. restated a “neutral” rating and set a $88.00 price target (up previously from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. B. Riley lowered their target price on shares of Procter & Gamble Co. from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 30th. Zacks Investment Research lowered shares of Procter & Gamble Co. from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Finally, Vetr upgraded shares of Procter & Gamble Co. from a “sell” rating to a “buy” rating and set a $89.50 target price on the stock in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.63.
The stock’s 50-day moving average is $84.01 and its 200 day moving average is $81.77. The stock has a market capitalization of $226.95 billion and a PE ratio of 26.87.
Procter & Gamble Co. (NYSE:PG) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. During the same period last year, the company posted $0.92 earnings per share. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.81 billion. The business’s revenue was down 6.9% compared to the same quarter last year. On average, analysts predict that Procter & Gamble Co. will post $3.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be given a dividend of $0.6695 per share. This represents a $2.68 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, July 20th.
In other news, Chairman Alan G. Lafley sold 171,850 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $80.51, for a total value of $13,835,643.50. Following the transaction, the chairman now directly owns 568,153 shares of the company’s stock, valued at $45,741,998.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suranjan Magesvaran sold 4,336 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $82.00, for a total transaction of $355,552.00. Following the completion of the transaction, the insider now directly owns 11,560 shares in the company, valued at $947,920. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of PG. Marco Investment Management LLC raised its position in shares of Procter & Gamble Co. by 2.2% in the fourth quarter. Marco Investment Management LLC now owns 80,545 shares of the company’s stock valued at $6,396,000 after buying an additional 1,725 shares during the last quarter. Flippin Bruce & Porter Inc. increased its position in Procter & Gamble Co. by 3.2% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 75,896 shares of the company’s stock valued at $6,027,000 after buying an additional 2,375 shares during the period. Stack Financial Management Inc increased its position in Procter & Gamble Co. by 0.8% in the fourth quarter. Stack Financial Management Inc now owns 99,275 shares of the company’s stock valued at $7,883,000 after buying an additional 830 shares during the period. Foresters Investment Management Company Inc. increased its position in Procter & Gamble Co. by 2.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 261,100 shares of the company’s stock valued at $20,734,000 after buying an additional 7,200 shares during the period. Finally, Home Federal Bank of Tennessee acquired a new position in Procter & Gamble Co. during the fourth quarter valued at approximately $1,757,000.
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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