Procter & Gamble Co. (PG) Sees Strong Trading Volume
Procter & Gamble Co. (NYSE:PG) shares saw unusually-strong trading volume on Tuesday . Approximately 33,819,984 shares changed hands during mid-day trading, an increase of 85% from the previous session’s volume of 18,322,669 shares.The stock last traded at $88.75 and had previously closed at $88.37.
A number of analysts have recently weighed in on PG shares. Jefferies Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Procter & Gamble Co. in a research note on Thursday, June 23rd. Vetr raised shares of Procter & Gamble Co. from a “sell” rating to a “buy” rating and set a $89.50 price target for the company in a research note on Wednesday, June 15th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $92.00 price target (up from $85.00) on shares of Procter & Gamble Co. in a research note on Sunday, July 24th. Stifel Nicolaus upped their price target on shares of Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. Finally, JPMorgan Chase & Co. set a $99.00 price target on shares of Procter & Gamble Co. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $89.58.
The firm has a market capitalization of $236.40 billion, a P/E ratio of 23.98 and a beta of 0.51. The company has a 50 day moving average of $87.27 and a 200-day moving average of $83.97.
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Procter & Gamble Co. (NYSE:PG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.83 billion. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. On average, analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current fiscal year.
In related news, CEO David S. Taylor sold 72,525 shares of Procter & Gamble Co. stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $85.76, for a total transaction of $6,219,744.00. Following the transaction, the chief executive officer now owns 136,933 shares of the company’s stock, valued at approximately $11,743,374.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Valarie L. Sheppard sold 32,532 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $86.90, for a total transaction of $2,827,030.80. Following the sale, the senior vice president now owns 28,397 shares in the company, valued at $2,467,699.30. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new stake in shares of Procter & Gamble Co. during the second quarter valued at approximately $112,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Procter & Gamble Co. during the second quarter valued at approximately $122,000. Global X Management Co. LLC increased its stake in shares of Procter & Gamble Co. by 259.5% in the second quarter. Global X Management Co. LLC now owns 1,517 shares of the company’s stock valued at $128,000 after buying an additional 1,095 shares during the period. Lenox Wealth Advisors Inc. increased its stake in shares of Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock valued at $156,000 after buying an additional 10 shares during the period. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Procter & Gamble Co. during the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 58.75% of the company’s stock.
Procter & Gamble Co. Company Profile
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
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