Procter & Gamble Co (NYSE:PG) announced a quarterly dividend on Tuesday, July 9th, RTT News reports. Shareholders of record on Friday, July 19th will be paid a dividend of 0.7459 per share on Thursday, August 15th. This represents a $2.98 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, July 18th.
Procter & Gamble has increased its dividend payment by an average of 2.6% per year over the last three years and has raised its dividend every year for the last 62 years. Procter & Gamble has a payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Procter & Gamble to earn $4.76 per share next year, which means the company should continue to be able to cover its $2.98 annual dividend with an expected future payout ratio of 62.6%.
Shares of PG stock opened at $115.89 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.39. Procter & Gamble has a 1 year low of $77.54 and a 1 year high of $116.52. The company has a fifty day simple moving average of $110.27. The firm has a market cap of $289.66 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 3.50 and a beta of 0.45.
In related news, insider Carolyn M. Tastad sold 3,980 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $105.85, for a total transaction of $421,283.00. Following the completion of the transaction, the insider now directly owns 46,495 shares in the company, valued at approximately $4,921,495.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 71,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $104.62, for a total transaction of $7,480,330.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,840 shares of company stock valued at $33,904,086. 1.84% of the stock is currently owned by insiders.
PG has been the topic of several recent analyst reports. DZ Bank restated a “buy” rating on shares of Deutz in a research note on Wednesday, April 24th. Morgan Stanley set a $111.00 target price on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Co set a $27.00 target price on shares of Univar and gave the stock a “buy” rating in a report on Monday, April 8th. Zacks Investment Research downgraded shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $102.32.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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