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

Procter & Gamble (NYSE:PG) posted its quarterly earnings data 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 analyst estimates of $20.43 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Price Performance

PG stock opened at $158.02 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.64. The business has a 50-day simple moving average of $159.14 and a two-hundred day simple moving average of $152.92. The company has a market capitalization of $371.82 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.44. 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 announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is currently 67.50%.

Insider Transactions at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 776 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, the chief executive officer now owns 4,859 shares in the company, valued at $768,256.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were 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 $768,256.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the sale, the insider now owns 163,428 shares of the company’s stock, valued at approximately $25,097,637.96. The disclosure for this sale can be found here. Insiders sold a total of 279,063 shares of company stock valued at $43,187,745 over the last ninety days. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procter & Gamble

Several large investors have recently made changes to their positions in PG. Wescott Financial Advisory Group LLC increased its holdings 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 buying an additional 72 shares during the last quarter. First Capital Advisors Group LLC. increased its stake 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 purchasing an additional 74 shares during the last quarter. Smith Anglin Financial LLC raised its holdings in shares of Procter & Gamble by 1.0% in the 4th quarter. Smith Anglin Financial LLC now owns 7,790 shares of the company’s stock worth $1,181,000 after purchasing an additional 75 shares during the period. Objective Capital Management LLC lifted its stake in Procter & Gamble by 1.9% in the second 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. grew its holdings in Procter & Gamble by 0.4% during the second 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 period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PG shares. Wells Fargo & Company upped their price objective on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Raymond James lifted their price objective on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and upped their target price for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada increased their price target on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.