Procter & Gamble Co (NYSE:PG) announced a quarterly dividend on Tuesday, October 9th, RTT News reports. Investors of record on Friday, October 19th will be given a dividend of 0.7172 per share on Thursday, November 15th. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, October 18th.
Procter & Gamble has raised its dividend by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 61 consecutive years. Procter & Gamble has a payout ratio of 64.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Procter & Gamble to earn $4.69 per share next year, which means the company should continue to be able to cover its $2.87 annual dividend with an expected future payout ratio of 61.2%.
NYSE:PG opened at $79.06 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $209.82 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.68 and a beta of 0.59. Procter & Gamble has a 52 week low of $70.73 and a 52 week high of $93.51.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The firm had revenue of $16.50 billion during the quarter, compared to analyst estimates of $16.52 billion. Procter & Gamble had a net margin of 14.59% and a return on equity of 20.94%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Equities analysts forecast that Procter & Gamble will post 4.42 earnings per share for the current year.
Several research firms have commented on PG. Atlantic Securities began coverage on shares of Procter & Gamble in a research note on Thursday, September 20th. They issued an “overweight” rating and a $94.00 price objective for the company. Wells Fargo & Co reiterated a “hold” rating and issued a $78.00 price objective on shares of Procter & Gamble in a research note on Thursday, August 16th. ValuEngine upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Deutsche Bank increased their price objective on shares of Procter & Gamble from $84.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $84.53.
In other news, SVP Valarie L. Sheppard sold 27,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $80.66, for a total transaction of $2,177,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Deborah P. Majoras sold 11,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $83.53, for a total transaction of $926,932.41. Following the transaction, the insider now directly owns 46,096 shares of the company’s stock, valued at $3,850,398.88. The disclosure for this sale can be found here. Insiders have sold a total of 147,186 shares of company stock valued at $12,080,849 over the last three months. Insiders own 1.84% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new position in Procter & Gamble in the 2nd quarter worth approximately $113,000. Fort L.P. bought a new position in Procter & Gamble in the 2nd quarter worth approximately $124,000. Allstate Corp bought a new position in Procter & Gamble in the 2nd quarter worth approximately $251,000. Kalos Management Inc. bought a new position in Procter & Gamble in the 2nd quarter worth approximately $280,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Procter & Gamble by 41.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,500 shares of the company’s stock worth $585,000 after buying an additional 2,198 shares during the period. 58.36% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Company Profile
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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