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

Procter & Gamble (NYSE:PG) released its quarterly earnings data on Friday. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10, Briefing.com reports. The firm had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.77% and a net margin of 18.00%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Stock Up 0.5 %

Shares of NYSE PG opened at $158.14 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.69 and a quick ratio of 0.48. The company has a market cap of $372.11 billion, a P/E ratio of 25.84, a PEG ratio of 3.19 and a beta of 0.44. Procter & Gamble has a 1 year low of $141.45 and a 1 year high of $163.14. The firm has a 50-day simple moving average of $159.14 and a two-hundred day simple moving average of $153.02.

Procter & Gamble Increases Dividend

The firm also recently declared 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 is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.55%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 24th. UBS Group boosted their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $168.53.

Insiders Place Their Bets

In other news, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction that occurred on Monday, March 4th. The shares were 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 of the company’s stock, valued at $768,256.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Marc S. Pritchard sold 101,704 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction on 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 owns 4,859 shares of the company’s stock, valued at $768,256.49. 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 90 days. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Procter & Gamble by 1.1% during the first quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock worth $6,936,343,000 after purchasing an additional 510,559 shares in the last quarter. Morgan Stanley grew its stake in Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after acquiring an additional 38,495,676 shares in the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter valued at about $3,752,321,000. Finally, Legal & General Group Plc grew its stake in Procter & Gamble by 27.3% during the 4th quarter. Legal & General Group Plc now owns 20,619,426 shares of the company’s stock valued at $3,021,573,000 after acquiring an additional 4,426,269 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Company Profile

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.