Procter & Gamble (PG) Sets New 52-Week High and Low Following Strong Earnings

Shares of Procter & Gamble (NYSE:PG) hit a new 52-week high and low during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as low as $74.20 and last traded at $75.10, with a volume of 10896810 shares changing hands. The stock had previously closed at $78.20.

The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. Procter & Gamble had a net margin of 15.34% and a return on equity of 20.66%. The firm had revenue of $16.28 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter last year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be paid a $0.7172 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, April 19th. This represents a $2.87 annualized dividend and a dividend yield of 3.89%. Procter & Gamble’s dividend payout ratio (DPR) is 70.41%.

PG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Monday, January 8th. Morgan Stanley reduced their price objective on shares of Procter & Gamble from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. Goldman Sachs upgraded shares of Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 price objective for the company in a research note on Tuesday, January 16th. Bank of America restated a “neutral” rating and set a $90.00 target price on shares of Procter & Gamble in a research report on Thursday. Finally, Jefferies Group restated a “buy” rating and set a $90.00 target price on shares of Procter & Gamble in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Procter & Gamble currently has an average rating of “Hold” and a consensus price target of $84.13.

In other news, insider Deborah P. Majoras sold 4,591 shares of Procter & Gamble stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $87.48, for a total transaction of $401,620.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jon R. Moeller sold 3,252 shares of Procter & Gamble stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $255,574.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,011 shares of company stock valued at $9,710,976. Insiders own 0.35% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. ACR Alpine Capital Research LLC grew its stake in Procter & Gamble by 0.8% during the second quarter. ACR Alpine Capital Research LLC now owns 3,001 shares of the company’s stock worth $262,000 after buying an additional 25 shares during the period. JT Stratford LLC grew its stake in Procter & Gamble by 0.6% during the second quarter. JT Stratford LLC now owns 4,060 shares of the company’s stock worth $354,000 after buying an additional 25 shares during the period. American Asset Management Inc. grew its stake in Procter & Gamble by 1.2% during the second quarter. American Asset Management Inc. now owns 4,036 shares of the company’s stock worth $352,000 after buying an additional 49 shares during the period. Ken Stern & Associates Inc. grew its stake in Procter & Gamble by 0.8% during the second quarter. Ken Stern & Associates Inc. now owns 6,189 shares of the company’s stock worth $540,000 after buying an additional 50 shares during the period. Finally, Krilogy Financial LLC grew its stake in Procter & Gamble by 0.7% during the second quarter. Krilogy Financial LLC now owns 6,938 shares of the company’s stock worth $605,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $197,142.50, a PE ratio of 18.83, a P/E/G ratio of 2.48 and a beta of 0.57.

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Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.

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