Keith R. Alexandra, CEO of Beauty at Procter & Gamble Co (NYSE:PG), recently sold shares of the company's stock. According to a filing with the Securities and Exchange Commission, Alexandra sold a total of 2,401 shares on October 22, 2024, at a price of $170 per share, amounting to a total value of $408,170.
Following these transactions, Alexandra holds 13,783.1608 shares directly, while an additional 3,487.9748 shares are held indirectly by a spouse. The filing also notes other indirect holdings, including 4,667.1348 shares by a retirement plan trustee and 2,521.7541 shares by a spouse and retirement plan trustee combined.
These transactions are part of routine filings that provide transparency into the trading activities of company insiders.
In other recent news, Procter & Gamble has shown resilience in its business model with recent developments such as a 2% rise in organic sales and a 5% increase in core earnings per share (EPS) to $1.93. Despite a 15% decline in sales in China, the company plans to return $16 billion to shareholders through dividends and stock repurchases. Truist Securities, TD (TSX:TD) Cowen, and Raymond James have all expressed positive outlooks for the company, with Truist raising its stock target to $180 and TD Cowen and Raymond James setting their targets at $189 and $190 respectively. DA Davidson, however, maintains a neutral stance with a stock target of $160. These analysts' viewpoints follow Procter & Gamble's Q1 earnings release and are based on their respective financial analyses. Procter & Gamble is also targeting $1.5 billion in cost savings for the year, demonstrating its commitment to efficient operation.
InvestingPro Insights
As Keith R. Alexandra, CEO of Beauty at Procter & Gamble Co (NYSE:PG), sells shares, investors might be interested in the company's current financial standing and market position. According to InvestingPro data, P&G boasts a substantial market capitalization of $398.43 billion, reflecting its status as a major player in the consumer goods sector.
P&G's commitment to shareholder value is evident in its dividend history. An InvestingPro Tip highlights that the company has raised its dividend for an impressive 41 consecutive years, demonstrating a strong track record of returning value to shareholders. This consistent dividend growth, coupled with a current dividend yield of 2.37%, may be attractive to income-focused investors.
The company's financial health appears robust, with an InvestingPro Tip noting that P&G's cash flows can sufficiently cover interest payments. This indicates a solid financial position, which is crucial for maintaining its dividend policy and funding future growth initiatives.
However, investors should also consider that P&G is trading at a relatively high P/E ratio of 28.47, suggesting the stock may be priced at a premium compared to its earnings. This valuation metric could be important for investors assessing the stock's current price in relation to Alexandra's recent sale.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights, with 11 more tips available for P&G. These tips could provide valuable context for understanding the company's market position and future prospects.
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