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 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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.