Procter & Gamble Co (NYSE:PG) announced a quarterly dividend on Tuesday, July 9th, RTT News reports. Shareholders of record on Friday, July 19th will be paid a dividend of 0.7459 per share on Thursday, August 15th. This represents a $2.98 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, July 18th.
Procter & Gamble has increased its dividend by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 62 consecutive years. Procter & Gamble has a dividend payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Procter & Gamble to earn $4.76 per share next year, which means the company should continue to be able to cover its $2.98 annual dividend with an expected future payout ratio of 62.6%.
PG stock opened at $115.48 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39. Procter & Gamble has a 12 month low of $77.54 and a 12 month high of $115.88. The company has a market cap of $288.43 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.49 and a beta of 0.45. The firm has a 50-day moving average price of $110.09.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The company had revenue of $16.46 billion for the quarter, compared to analyst estimates of $16.37 billion. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. As a group, equities research analysts forecast that Procter & Gamble will post 4.48 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Wells Fargo & Co set a $27.00 price target on shares of Univar and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group boosted their price target on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a research report on Wednesday, April 24th. Goldman Sachs Group upgraded shares of to a “neutral” rating and dropped their price target for the stock from GBX 1,855 ($24.24) to GBX 1,800 ($23.52) in a research report on Thursday, June 27th. Finally, Scotiabank restated a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Procter & Gamble has an average rating of “Hold” and an average price target of $102.32.
In other Procter & Gamble news, Chairman David S. Taylor sold 20,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $106.83, for a total transaction of $2,136,600.00. Following the sale, the chairman now directly owns 246,837 shares of the company’s stock, valued at $26,369,596.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Taylor sold 30,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $105.00, for a total transaction of $3,150,000.00. Following the sale, the chief executive officer now directly owns 256,088 shares in the company, valued at $26,889,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,840 shares of company stock valued at $33,904,086. 1.84% of the stock is owned by company insiders.
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.
Further Reading: What is the significance of a dead cat bounce?
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.