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

Procter & Gamble (NYSE:PG) released its earnings results on Friday. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same period in the previous year, the business posted $1.37 EPS. The business’s revenue for the quarter 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 Price Performance

Procter & Gamble stock opened at $153.85 on Friday. The stock has a market cap of $362.01 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.21 and a beta of 0.44. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $159.13 and a 200 day simple moving average of $152.83. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $163.14.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.62%. Procter & Gamble’s dividend payout ratio (DPR) is currently 62.98%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 3,865 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total value of $620,719.00. Following the sale, the insider now directly owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO R. Alexandra Keith sold 776 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $158.11, for a total transaction of $122,693.36. Following the transaction, the chief executive officer now directly owns 4,859 shares in the company, valued at approximately $768,256.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 3,865 shares of the company’s stock in a transaction that occurred 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 sale, 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. Insiders have sold a total of 279,063 shares of company stock valued at $43,187,745 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Procter & Gamble by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock worth $6,936,343,000 after purchasing an additional 510,559 shares during the period. Morgan Stanley increased its holdings in shares of Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after buying an additional 4,959,527 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after buying an additional 38,495,676 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $3,752,321,000. Finally, Legal & General Group Plc boosted its holdings in Procter & Gamble by 27.3% during the 4th quarter. Legal & General Group Plc now owns 20,619,426 shares of the company’s stock valued at $3,021,573,000 after acquiring an additional 4,426,269 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PG shares. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, January 18th. Stifel Nicolaus boosted their target price on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and increased their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Procter & Gamble from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $168.53.

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.