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

Procter & Gamble (NYSE:PG) posted its earnings results on Friday. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10, Briefing.com reports. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The company had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. During the same period in the prior year, the business posted $1.37 earnings per share. Procter & Gamble’s revenue for the quarter was up .6% on a year-over-year basis. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $158.02 on Friday. The company has a market capitalization of $371.82 billion, a PE ratio of 26.47, a PEG ratio of 3.22 and a beta of 0.44. The business has a fifty day moving average price of $159.14 and a 200-day moving average price of $152.92. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $163.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $1.0065 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 67.50%.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction on Wednesday, January 24th. The stock was 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 in the company, valued at approximately $25,097,637.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction on Monday, March 4th. The stock was sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the sale, the chief executive officer now directly owns 4,859 shares of the company’s stock, valued at approximately $768,256.49. The disclosure for this sale can be found here. Insiders have sold a total of 279,063 shares of company stock worth $43,187,745 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

Institutional investors have recently made changes to their positions in the stock. Axiom Financial Strategies LLC boosted its stake in shares of Procter & Gamble by 7.0% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock worth $276,000 after buying an additional 113 shares during the last quarter. AMI Investment Management Inc. boosted its position in Procter & Gamble by 7.2% in the first quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after purchasing an additional 233 shares during the last quarter. LSV Asset Management grew its stake in shares of Procter & Gamble by 5.7% during the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after purchasing an additional 1,000 shares during the period. Ergoteles LLC purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at about $3,073,000. Finally, Wsfs Capital Management LLC lifted its stake in shares of Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock worth $650,000 after purchasing an additional 455 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PG. Royal Bank of Canada lifted their price objective on Procter & Gamble from $156.00 to $157.00 and gave the stock 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 company a “buy” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Procter & Gamble from $170.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Seven equities research 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 stock has an average rating of “Moderate Buy” and an average target price of $168.53.

About Procter & Gamble

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.