Gary A. Coombe, CEO of Grooming at Procter & Gamble Co. (NYSE:PG), recently executed a significant stock transaction, according to a filing with the Securities and Exchange Commission. On November 27, Coombe sold 47,847 shares of Procter & Gamble common stock at an average price of $179.84 per share, totaling approximately $8.6 million.
Prior to this sale, Coombe exercised stock options to acquire the same number of shares at a price of $91.07 each, amounting to a total value of about $4.36 million. After these transactions, Coombe holds 39,977.1721 shares directly, with additional shares held indirectly through various retirement and stock ownership plans.
These transactions reflect Coombe's ongoing management of his holdings in the company, where he plays a key leadership role.
In other recent news, Procter & Gamble has seen a series of developments. DA Davidson upgraded the stock from Neutral to Buy, raising its price target to $209 from $160, citing the company's robust performance and future growth expectations. The firm also revised its forecast for Procter & Gamble's fiscal year 2025 organic sales growth to 3.5% from 3.0% and raised its earnings per share estimate for the same period by $0.05 to $7.03.
Stifel, on the other hand, increased its price target for Procter & Gamble to $167 while maintaining a Hold rating. This adjustment followed a recent investor meeting where the company reiterated its fiscal year 2025 guidance, aiming for 3%-5% organic sales growth and 5%-7% core earnings per share growth.
Financial firm Piper Sandler maintained a Neutral stance on Procter & Gamble with a consistent price target of $174, highlighting the company's business strategies, including investments in marketing and innovation, and cost-saving initiatives aimed at growing margins.
In the company's first quarter, a 2% increase in organic sales was reported, primarily driven by volume growth and pricing strategies. Despite a 15% decline in organic sales in the Greater China region, the company's strong performance in North America and Europe played a significant role in these results.
Furthermore, Procter & Gamble plans to return $16-17 billion to shareholders through dividends and share repurchases. These recent developments emphasize the company's focus on growth and shareholder returns.
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