Procter & Gamble (NYSE:PG) announced its earnings results on Thursday. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02, Bloomberg Earnings reports. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The business had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the firm earned $0.96 EPS. Procter & Gamble’s revenue for the quarter was up 4.3% compared to the same quarter last year.
Shares of NYSE PG traded down $0.28 during midday trading on Friday, hitting $74.67. 2,289,172 shares of the company’s stock were exchanged, compared to its average volume of 9,903,272. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. Procter & Gamble has a 12 month low of $74.01 and a 12 month high of $94.67. The company has a market capitalization of $197,142.50, a P/E ratio of 19.12, a P/E/G ratio of 2.48 and a beta of 0.57.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be paid a dividend of $0.7172 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.69. This represents a $2.87 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, April 19th. Procter & Gamble’s payout ratio is currently 70.41%.
A number of research analysts have weighed in on PG shares. Zacks Investment Research downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Goldman Sachs upgraded Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 price target for the company in a research note on Tuesday, January 16th. Barclays set a $84.00 price target on Procter & Gamble and gave the company a “hold” rating in a research note on Thursday, March 15th. Vetr upgraded Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price target for the company in a research note on Thursday, February 1st. Finally, SunTrust Banks restated a “hold” rating and issued a $90.00 price target on shares of Procter & Gamble in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $84.25.
In related news, insider Marylynn Fergusonmchugh sold 2,353 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total value of $184,922.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 46,842 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $89.01, for a total value of $4,169,406.42. The disclosure for this sale can be found here. Insiders have sold a total of 114,011 shares of company stock valued at $9,710,976 over the last quarter. 0.35% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PG. Capital Research Global Investors boosted its stake in Procter & Gamble by 74.2% in the 2nd quarter. Capital Research Global Investors now owns 12,389,104 shares of the company’s stock valued at $1,079,710,000 after purchasing an additional 5,278,359 shares during the period. Janus Henderson Group PLC boosted its stake in Procter & Gamble by 1,244.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,500,564 shares of the company’s stock valued at $392,226,000 after purchasing an additional 4,165,862 shares during the period. Vanguard Group Inc. boosted its stake in Procter & Gamble by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 180,730,770 shares of the company’s stock valued at $15,750,688,000 after purchasing an additional 4,066,266 shares during the period. BlackRock Inc. boosted its stake in Procter & Gamble by 1.4% in the 2nd quarter. BlackRock Inc. now owns 156,361,011 shares of the company’s stock valued at $13,626,862,000 after purchasing an additional 2,164,426 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Procter & Gamble by 30.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,349,258 shares of the company’s stock valued at $553,334,000 after purchasing an additional 1,487,095 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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