The Procter & Gamble Company (PG) to Issue Quarterly Dividend of $1.06 on May 15th

The Procter & Gamble Company (NYSE:PG) announced a quarterly dividend on Tuesday, April 8th, RTT News reports. Stockholders of record on Monday, April 21st will be given a dividend of 1.0568 per share on Thursday, May 15th. This represents a $4.23 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, April 21st. This is a 5.0% increase from Procter & Gamble’s previous quarterly dividend of $1.01.

Procter & Gamble has raised its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 69 years. Procter & Gamble has a dividend payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Procter & Gamble to earn $7.34 per share next year, which means the company should continue to be able to cover its $4.03 annual dividend with an expected future payout ratio of 54.9%.

Procter & Gamble Stock Performance

NYSE:PG opened at $162.51 on Thursday. Procter & Gamble has a 1-year low of $153.52 and a 1-year high of $180.43. The stock has a 50 day simple moving average of $168.48 and a 200 day simple moving average of $168.72. The stock has a market cap of $381.06 billion, a P/E ratio of 25.88, a PEG ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Research analysts anticipate that Procter & Gamble will post 6.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus increased their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, Truist Financial lifted their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $182.00.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Procter & Gamble stock. Brighton Jones LLC raised its stake in The Procter & Gamble Company (NYSE:PG) by 51.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,068 shares of the company’s stock after buying an additional 13,617 shares during the period. Brighton Jones LLC’s holdings in Procter & Gamble were worth $6,717,000 as of its most recent filing with the SEC. 65.77% of the stock is owned by institutional investors and hedge funds.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.