Procter & Gamble (NYSE:PG) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Procter & Gamble (NYSE:PG) posted its earnings results on Friday. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.10, Briefing.com reports. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Stock Down 1.8 %

Shares of NYSE:PG opened at $154.39 on Friday. The company has a market capitalization of $363.28 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 3.21 and a beta of 0.44. The company has a 50 day moving average of $159.13 and a two-hundred day moving average of $152.83. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. Procter & Gamble has a 52-week low of $141.45 and a 52-week high of $163.14.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a dividend of $1.0065 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.98%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PG. Raymond James raised their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Barclays upped their price objective on shares of Procter & Gamble from $165.00 to $168.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a research report on Thursday, January 18th. Finally, Wells Fargo & Company increased their target price on Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $168.53.

Insider Activity at Procter & Gamble

In other news, insider Susan Street Whaley sold 3,865 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the sale, the insider now directly owns 11,886 shares in the company, valued at $1,908,891.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the sale, the insider now directly owns 163,428 shares in the company, valued at $25,097,637.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the transaction, the insider now directly owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The disclosure for this sale can be found here. In the last three months, insiders sold 279,063 shares of company stock valued at $43,187,745. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

Several hedge funds and other institutional investors have recently modified their holdings of PG. Wescott Financial Advisory Group LLC lifted its position in Procter & Gamble by 0.3% during the first quarter. Wescott Financial Advisory Group LLC now owns 22,385 shares of the company’s stock worth $3,420,000 after purchasing an additional 72 shares during the period. First Capital Advisors Group LLC. boosted its position in shares of Procter & Gamble by 0.3% during the 1st quarter. First Capital Advisors Group LLC. now owns 24,968 shares of the company’s stock worth $3,712,000 after acquiring an additional 74 shares in the last quarter. Smith Anglin Financial LLC raised its position in Procter & Gamble by 1.0% during the fourth quarter. Smith Anglin Financial LLC now owns 7,790 shares of the company’s stock valued at $1,181,000 after purchasing an additional 75 shares in the last quarter. Objective Capital Management LLC increased its stake in shares of Procter & Gamble by 1.9% in the 2nd quarter. Objective Capital Management LLC now owns 4,391 shares of the company’s stock valued at $666,000 after purchasing an additional 81 shares during the last quarter. Finally, Holderness Investments Co. lifted its stake in Procter & Gamble by 0.4% in the 2nd quarter. Holderness Investments Co. now owns 24,618 shares of the company’s stock valued at $3,736,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.