Procter & Gamble (NYSE:PG) Announces Earnings Results

Procter & Gamble (NYSE:PG – Get Rating) announced its quarterly earnings data on Thursday. The company reported $1.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.59, Yahoo Finance reports. The firm 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 revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $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. The company has a fifty day moving average of $149.11 and a 200-day moving average of $142.09. The firm has a market capitalization of $341.05 billion, a P/E ratio of 24.78, a P/E/G ratio of 4.32 and a beta of 0.42. 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 has a twelve month low of $122.18 and a twelve month high of $165.35.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th will be paid a $0.9133 dividend. The ex-dividend date is Thursday, January 19th. This represents a $3.65 annualized dividend and a dividend yield of 2.56%. Procter & Gamble’s dividend payout ratio is currently 63.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PG. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $149.00 to $164.00 in a research note on Tuesday, November 22nd. Evercore ISI reduced their price target on shares of Procter & Gamble to $145.00 in a research note on Thursday, October 20th. Morgan Stanley reduced their price target on shares of Procter & Gamble from $177.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 4th. Raymond James lifted their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Finally, Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.07.

Insider Activity

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

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds have recently bought and sold shares of PG. Wescott Financial Advisory Group LLC boosted its holdings in shares of Procter & Gamble by 0.3% in the 1st 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. Axiom Financial Strategies LLC lifted its holdings in Procter & Gamble by 7.0% during 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. First Commonwealth Financial Corp PA lifted its holdings in Procter & Gamble by 1.1% during the first quarter. First Commonwealth Financial Corp PA now owns 11,744 shares of the company’s stock valued at $1,794,000 after purchasing an additional 132 shares during the last quarter. Laffer Tengler Investments lifted its holdings in Procter & Gamble by 1.1% during the first quarter. Laffer Tengler Investments now owns 12,639 shares of the company’s stock valued at $1,931,000 after purchasing an additional 136 shares during the last quarter. Finally, KC Investment Advisors LLC lifted its holdings in Procter & Gamble by 3.3% during the first quarter. KC Investment Advisors LLC now owns 4,850 shares of the company’s stock valued at $741,000 after purchasing an additional 154 shares during the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

About Procter & Gamble

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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.