Procter & Gamble Co (NYSE:PG) announced a quarterly dividend on Tuesday, July 9th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, July 18th.
Procter & Gamble has increased its dividend payment by an average of 2.6% annually over the last three years and has raised its dividend every year for the last 62 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%.
Shares of PG opened at $115.89 on Wednesday. The company has a market cap of $289.66 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 3.50 and a beta of 0.45. 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 fifty-two week low of $77.54 and a fifty-two week high of $116.52. The business has a 50 day simple moving average of $110.27.
A number of equities research analysts have recently weighed in on PG shares. Wells Fargo & Co set a $27.00 price objective on shares of Univar and gave the stock a “buy” rating in a report on Monday, April 8th. Scotiabank restated a “buy” rating on shares of Procter & Gamble in a report on Friday, July 5th. Zacks Investment Research downgraded shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. UBS Group lifted their target price on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a research note on Wednesday, April 24th. Finally, Credit Suisse Group set a $100.00 target price on shares of Procter & Gamble and gave the stock a “hold” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.32.
In other news, CEO David S. Taylor sold 30,000 shares of the business’s stock in a transaction on 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 owns 256,088 shares in the company, valued at approximately $26,889,240. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman David S. Taylor sold 20,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $106.83, for a total transaction of $2,136,600.00. Following the completion of the transaction, the chairman now owns 246,837 shares in the company, valued at approximately $26,369,596.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,840 shares of company stock worth $33,904,086. Insiders own 1.84% of the company’s stock.
About Procter & Gamble
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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