Procter & Gamble Co. (PG) Trading Down 2% Following Insider Selling
Procter & Gamble Co. (NYSE:PG) was down 2% on Wednesday following insider selling activity. The company traded as low as $86.44 and last traded at $86.79, with a volume of 44,121,355 shares. The stock had previously closed at $88.58.
Specifically, CEO David S. Taylor sold 72,525 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $85.76, for a total transaction of $6,219,744.00. Following the sale, the chief executive officer now directly owns 136,933 shares of the company’s stock, valued at approximately $11,743,374.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Juan Fernando Posada sold 10,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $88.58, for a total value of $885,800.00. Following the sale, the insider now directly owns 26,452 shares in the company, valued at $2,343,118.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on PG shares. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $88.00 price target (up from $81.00) on shares of Procter & Gamble Co. in a research report on Friday, July 15th. Jefferies Group started coverage on Procter & Gamble Co. in a research report on Wednesday, June 15th. They set a “buy” rating and a $95.00 price target on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $95.00 price target on shares of Procter & Gamble Co. in a research report on Saturday, August 13th. B. Riley reaffirmed a “neutral” rating and set a $74.00 price target on shares of Procter & Gamble Co. in a research report on Wednesday, August 3rd. Finally, Johnson Rice raised Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a research report on Friday, August 26th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $89.58.
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The stock has a market cap of $232.07 billion, a PE ratio of 23.54 and a beta of 0.51. The company’s 50 day moving average is $87.27 and its 200-day moving average is $83.97.
Procter & Gamble Co. (NYSE:PG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.83 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Procter & Gamble Co. by 4.0% in the second quarter. Macquarie Group Ltd. now owns 148,651 shares of the company’s stock valued at $12,586,000 after buying an additional 5,732 shares during the last quarter. Carnick & Kubik Group LLC bought a new position in shares of Procter & Gamble Co. during the second quarter valued at $2,732,000. Williams Jones & Associates LLC raised its position in shares of Procter & Gamble Co. by 217.0% in the second quarter. Williams Jones & Associates LLC now owns 116,203 shares of the company’s stock valued at $9,839,000 after buying an additional 79,545 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Procter & Gamble Co. during the second quarter valued at $9,100,000. Finally, Kentucky Retirement Systems bought a new position in shares of Procter & Gamble Co. during the second quarter valued at $19,166,000. Institutional investors own 58.73% 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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