Procter & Gamble (NYSE:PG) Stock Price Down 5.3% After Earnings Miss

The Procter & Gamble Company (NYSE:PG - Get Free Report) shares were down 5.3% during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $157.01 and last traded at $156.95. Approximately 5,753,650 shares changed hands during trading, a decline of 18% from the average daily volume of 7,042,145 shares. The stock had previously closed at $165.73.

The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same period last year, the company posted $1.52 earnings per share. The firm's quarterly revenue was down 2.1% compared to the same quarter last year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be paid a $1.0568 dividend. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.61%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 66.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PG shares. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an "overweight" rating in a research note on Friday. Barclays restated an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Erste Group Bank raised shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Bank of America decreased their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $180.79.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company's stock, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds have recently modified their holdings of the stock. Berkshire Asset Management LLC PA boosted its stake in shares of Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock valued at $38,833,000 after purchasing an additional 2,179 shares in the last quarter. Strategic Advisors LLC boosted its position in Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company's stock valued at $9,374,000 after buying an additional 1,818 shares in the last quarter. Copley Financial Group Inc. bought a new stake in Procter & Gamble during the third quarter worth about $668,000. Fortem Financial Group LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $569,000. Finally, Richard C. Young & CO. LTD. boosted its holdings in shares of Procter & Gamble by 2.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company's stock worth $20,764,000 after acquiring an additional 2,568 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

The stock has a 50-day moving average of $168.16 and a 200 day moving average of $168.32. The firm has a market capitalization of $379.56 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

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.