Procter & Gamble (NYSE:PG) Issues FY 2024 Earnings Guidance

Procter & Gamble (NYSE:PG - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 6.490-6.550 for the period, compared to the consensus EPS estimate of 6.450. The company issued revenue guidance of $83.6 billion-$85.3 billion, compared to the consensus revenue estimate of $84.7 billion.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $169.00 to $162.00 and set an overweight rating on the stock in a report on Thursday, January 18th. UBS Group boosted their price target on shares of Procter & Gamble from $172.00 to $178.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Truist Financial upgraded shares of Procter & Gamble from a hold rating to a buy rating and boosted their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Barclays boosted their price target on shares of Procter & Gamble from $165.00 to $168.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a hold rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Procter & Gamble has a consensus rating of Moderate Buy and a consensus price target of $168.53.

Procter & Gamble Stock Up 0.5 %

PG traded up $0.73 on Friday, reaching $158.02. The company's stock had a trading volume of 12,028,669 shares, compared to its average volume of 6,932,996. The stock has a 50 day moving average of $159.14 and a two-hundred day moving average of $152.92. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $371.82 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 3.21 and a beta of 0.44. Procter & Gamble has a fifty-two week low of $141.45 and a fifty-two week high of $163.14.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.10. The firm had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, analysts forecast that Procter & Gamble will post 6.45 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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. This represents a $4.03 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, April 18th. Procter & Gamble's dividend payout ratio is presently 67.34%.

Insider Activity

In other news, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the sale, the insider now directly owns 163,428 shares of the company's stock, valued at $25,097,637.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Marc S. Pritchard sold 101,704 shares of the firm's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the transaction, the insider now owns 163,428 shares in the company, valued at $25,097,637.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO R. Alexandra Keith sold 776 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now owns 4,859 shares of the company's stock, valued at approximately $768,256.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in Procter & Gamble in the 4th quarter valued at about $235,000. Aspect Partners LLC acquired a new position in Procter & Gamble in the 4th quarter valued at about $35,000. GSA Capital Partners LLP raised its stake in Procter & Gamble by 242.9% in the 4th quarter. GSA Capital Partners LLP now owns 5,167 shares of the company's stock valued at $757,000 after purchasing an additional 3,660 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Procter & Gamble by 20.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 497,700 shares of the company's stock valued at $72,933,000 after buying an additional 84,888 shares during the period. Finally, Mango Five Family Inc. purchased a new stake in Procter & Gamble in the 4th quarter valued at about $940,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

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.