Procter & Gamble (NYSE:PG) Posts Quarterly Earnings Results, Meets Expectations

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

Procter & Gamble Stock Performance

NYSE PG opened at $142.97 on Friday. Procter & Gamble has a fifty-two week low of $122.18 and a fifty-two week high of $165.35. The stock has a market cap 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. The business has a fifty day moving average of $149.11 and a 200-day moving average of $142.09. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 0.49.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th will be issued a $0.9133 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PG. UBS Group lowered their target price on shares of Procter & Gamble from $153.00 to $135.00 in a report on Thursday, October 13th. Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday. Credit Suisse Group reduced their price objective on shares of Procter & Gamble from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Procter & Gamble from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, December 6th. Finally, The Goldman Sachs Group cut shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $143.00 price objective for the company. in a research note on Sunday, October 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.07.

Insider Transactions at Procter & Gamble

In related news, CEO Sundar G. Raman sold 9,922 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $145.00, for a total value of $1,438,690.00. Following the completion of the transaction, the chief executive officer now directly owns 12,312 shares in the company, valued at $1,785,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 33,968 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $137.44, for a total transaction of $4,668,561.92. Following the completion of the sale, the chief executive officer now owns 38,990 shares of the company’s stock, valued at $5,358,785.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar G. Raman sold 9,922 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $145.00, for a total value of $1,438,690.00. Following the sale, the chief executive officer now directly owns 12,312 shares of the company’s stock, valued at approximately $1,785,240. The disclosure for this sale can be found here. Insiders sold a total of 58,812 shares of company stock valued at $8,190,363 over the last three months. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procter & Gamble

A number of institutional investors have recently added to or reduced their stakes in PG. Worth Asset Management LLC purchased a new stake in shares of Procter & Gamble in the first quarter worth about $111,000. Prelude Capital Management LLC boosted its holdings in Procter & Gamble by 111.0% in the first quarter. Prelude Capital Management LLC now owns 1,588 shares of the company’s stock valued at $243,000 after purchasing an additional 16,088 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Procter & Gamble in the first quarter valued at about $255,000. Axiom Financial Strategies LLC boosted its holdings in Procter & Gamble by 7.0% in the first quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after purchasing an additional 113 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. boosted its holdings in Procter & Gamble by 50.6% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 2,091 shares of the company’s stock valued at $320,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other 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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