Procter & Gamble (PG) Hits New 52-Week High at $105.57
Procter & Gamble Co (NYSE:PG) reached a new 52-week high on Monday . The stock traded as high as $105.57 and last traded at $105.50, with a volume of 2494592 shares traded. The stock had previously closed at $105.06.
Several research firms recently weighed in on PG. Wells Fargo & Co upgraded Procter & Gamble from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $78.00 to $115.00 in a research note on Monday, April 8th. Morgan Stanley set a $111.00 target price on Procter & Gamble and gave the stock a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Macquarie set a $110.00 target price on Procter & Gamble and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, Credit Suisse Group began coverage on Procter & Gamble in a research note on Wednesday, March 6th. They set a “neutral” rating and a $100.00 target price for the company. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Procter & Gamble has an average rating of “Hold” and an average target price of $97.74.
The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.40. The company has a market cap of $266.55 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 3.42 and a beta of 0.38.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a $0.7459 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $2.98 dividend on an annualized basis and a yield of 2.80%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s payout ratio is currently 68.01%.
In other news, Vice Chairman Jon R. Moeller sold 3,224 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $98.57, for a total value of $317,789.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Valarie L. Sheppard sold 1,236 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $100.12, for a total value of $123,748.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,270,496 shares of company stock valued at $224,931,027. 1.84% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $27,000. SeaBridge Investment Advisors LLC acquired a new position in Procter & Gamble during the fourth quarter worth $36,000. Cranbrook Wealth Management LLC grew its holdings in Procter & Gamble by 55.3% during the fourth quarter. Cranbrook Wealth Management LLC now owns 427 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares during the period. Smart Portfolios LLC grew its holdings in Procter & Gamble by 48.0% during the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock worth $41,000 after acquiring an additional 146 shares during the period. Finally, Canton Hathaway LLC grew its holdings in Procter & Gamble by 59.0% during the first quarter. Canton Hathaway LLC now owns 477 shares of the company’s stock worth $49,000 after acquiring an additional 177 shares during the period. 61.76% of the stock is currently owned by institutional investors and hedge funds.
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About Procter & Gamble (NYSE:PG)
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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