The Vanguard Group, Inc. recently announced the acquisition of new stake in The Procter & Gamble Company (NYSE:PG). The institutional investor has increased its shareholding in the Consumer Defensive company by 1.03% to 214.52 million shares with purchase of 2.19 million shares. This fresh investment now brings its stake to 9.05% valued currently at $28.89 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.87 million to 112.66 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.77% or 0.8 million shares – to 104.75 million shares.
With over 6.37 million The Procter & Gamble Company (PG) shares trading Monday and a closing price of $144.38 on the day, the dollar volume was approximately $920.29 million. The shares have shown a negative half year performance of -0.46% and its price on 11/21/22 gained nearly 1.27%. Currently, there are 2.39B common shares owned by the public and among those 2.37B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for PG have a consensus price objective of $148.19. The analysts have set the share’s price value over the next 12 months at a high of $170.00 and a low of $122.00. The average price target is 1.46% above its recent price level and a downside to the estimated low will see the stock lose -18.34% over that period. But an upside of 15.07% will see the stock hit the forecast high price target while median target price for the stock is $145.00.
Insiders at the company have transacted a total of 184 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 99 of these insider trades were purchases, accounting for 1,410,444 shares. Insider sales of the common stock occurred on 85 occasions, with total insider shares sold totaling 1,262,581 shares.
The top 3 mutual fund holders in The Procter & Gamble Company are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market Index owns 71.72 million shares of the company’s stock, all valued at over $9.66 billion. The company bought an additional 0.35 million shares recently to bring their total holdings to about 3.03% of the shares outstanding. Vanguard 500 Index Fund bought 0.53 million shares to see its total holdings expand to 54.68 million shares valued at over $7.36 billion and representing 2.31% of the shares outstanding. SPDR S&P 500 ETF Trust sold -0.3 million shares to bring its total holdings to over 26.89 million shares at a value of $3.62 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.14% of the shares outstanding.
Shares of The Procter & Gamble Company (NYSE: PG) opened at $143.06, up $0.49 from a prior closing price of $142.57. However, the script later moved the day high at 145.19, up 1.27%. The company’s stock has a 5-day price change of 2.41% and -1.41% over the past three months. PG shares are trading -11.74% year to date (YTD), with the 12-month market performance down to -1.66% lower. It has a 12-month low price of $122.18 and touched a high of $165.35 over the same period. PG has an average intraday trading volume of 6.73 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.90%, 8.38%, and -0.56% respectively.
Institutional ownership of The Procter & Gamble Company (NYSE: PG) shares accounts for 65.60% of the company’s 2.39B shares outstanding. Mutual fund holders own 30.74%, while other institutional holders and individual stakeholders account for 34.53% and 0.65% respectively.
It has a market capitalization of $338.06B and a beta (3y monthly) value of 0.40. The stock’s trailing 12-month PE ratio is 25.03, while the earnings-per-share (ttm) stands at $5.77. The company has a PEG of 5.23 and a Quick Ratio of 0.40 with the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.58% over the week and 1.71% over the month.
Analysts forecast that The Procter & Gamble Company (PG) will achieve an EPS of $1.58 for the current quarter, $1.35 for the next quarter and $6.24 for 2024. The lowest estimate earnings-per-share for the quarter is $1.55 while analysts give the company a high EPS estimate of $1.63. Comparatively, EPS for the current quarter was $1.66 a year ago. Earnings per share for the fiscal year are expected to increase by 5.60%, and 7.37% over the next financial year. EPS should shrink at an annualized rate of 4.79% over the next five years, compared to 9.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate The Procter & Gamble Company (PG) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 11 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PG, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on October 10, 2022, with the firm’s price target at $143. Raymond James coverage for the The Procter & Gamble Company (PG) stock in a research note released on April 08, 2022 offered a Outperform rating with a price target of $175. JP Morgan was of a view on March 30, 2022 that the stock is Neutral, while Truist gave the stock Buy rating on March 22, 2022, issuing a price target of $165- $175. BofA Securities on their part issued Buy rating on October 05, 2021.