Procter & Gamble (NYSE:PG) Announces Quarterly Earnings Results

Procter & Gamble (NYSE:PGGet Rating) released its quarterly earnings data on Thursday. The company reported $1.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.59, Yahoo Finance reports. Procter & Gamble had a net margin of 18.11% and a return on equity of 32.66%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. Procter & Gamble’s revenue for the quarter was down .9% on a year-over-year basis. Procter & Gamble updated its FY 2023 guidance to $5.81-$6.04 EPS.

Procter & Gamble Stock Up 0.4 %

Shares of NYSE:PG opened at $142.97 on Friday. The stock has a market capitalization of $341.05 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.32 and a beta of 0.42. Procter & Gamble has a 1-year low of $122.18 and a 1-year high of $165.35. The company’s fifty day moving average is $149.11 and its two-hundred day moving average is $142.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.41 and a current ratio of 0.62.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th will be issued a dividend of $0.9133 per share. The ex-dividend date is Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.56%. Procter & Gamble’s dividend payout ratio (DPR) is 63.26%.

Analyst Upgrades and Downgrades

PG has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Procter & Gamble from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 4th. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $149.00 to $164.00 in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $141.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, January 13th. Finally, The Goldman Sachs Group cut shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $143.00 target price on the stock. in a research report on Sunday, October 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.07.

Insiders Place Their Bets

In other Procter & Gamble news, CEO R. Alexandra Keith sold 33,968 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $137.44, for a total transaction of $4,668,561.92. Following the sale, the chief executive officer now directly owns 38,990 shares of the company’s stock, valued at $5,358,785.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO R. Alexandra Keith sold 33,968 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $137.44, for a total transaction of $4,668,561.92. Following the completion of the transaction, the chief executive officer now owns 38,990 shares in the company, valued at $5,358,785.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar G. Raman sold 14,922 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $139.60, for a total transaction of $2,083,111.20. Following the transaction, the chief executive officer now owns 12,310 shares of the company’s stock, valued at approximately $1,718,476. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,812 shares of company stock valued at $8,190,363. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently modified their holdings of the company. Axiom Financial Strategies LLC grew its position in Procter & Gamble by 7.0% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after buying an additional 113 shares in the last quarter. AMI Investment Management Inc. lifted its holdings in Procter & Gamble by 7.2% in the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock valued at $529,000 after acquiring an additional 233 shares during the last quarter. LSV Asset Management lifted its holdings in Procter & Gamble by 5.7% in the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after acquiring an additional 1,000 shares during the last quarter. Ergoteles LLC acquired a new stake in Procter & Gamble in the 1st quarter valued at about $3,073,000. Finally, Wsfs Capital Management LLC lifted its holdings in Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 62.13% of the company’s stock.

Procter & Gamble Company Profile

(Get Rating)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Earnings History for Procter & Gamble (NYSE:PG)

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