Cincinnati-based Procter & Gamble Company (PG) is a leading global consumer goods corporation with a market cap of $394.17 billion. Renowned for its extensive portfolio of trusted brands, PG operates across multiple segments, including beauty, grooming, health care, fabric and home care, and baby, feminine, and family care. The company's innovative product offerings and commitment to quality have cemented its position as a market leader. PG competes vigorously with other consumer goods giants, including Unilever PLC (UL), which is known for its diverse product range and sustainability initiatives.
Companies worth $200 billion or more are generally described as “mega-cap stocks,” and Procter & Gamble fits right into that category. Its market cap exceeds this threshold, reflecting its substantial size, stability, and influence in the consumer goods sector. Over the past years, the industry giant has focused on innovation and expansion through strategic acquisitions and investments in advanced product development initiatives.
PG shares are trading marginally below their 52-week high of $168.54, which they hit on May 21. However, PG has seen a 4.7% increase over the last three months compared to the marginal decline seen in the Dow Jones Industrial Average Index ($DOWI) during the same period.
Longer term, PG is up 14% on a YTD basis, and the shares are now holding onto a solid gain of 14% over the past 52 weeks. In comparison, the DOW is up 2.7% in 2024 and 14.7% over the past year.
To confirm the recent bullish price trend, PG has been trading above its 200-day moving average since late January.
Procter & Gamble's recent strong performance can be attributed to its robust Q3 results released on Apr. 19. Following the earnings release, PG shares saw a slight surge and closed the next trading session with a 1.5% increase. The company reported a fiscal third-quarter profit of $3.75 billion, or $1.52 per share, surpassing Wall Street expectations. However, revenue for the period was $20.20 billion, slightly below expectations.
Highlighting the contrast in performance, PG's competitor, Unilever, has outperformed both PG and the broader index. UL has experienced a 15.4% gain on a YTD basis.
Given its recent outperformance, analysts are optimistic about PG's prospects. The stock has a consensus rating of "Strong Buy" from 21 analysts in coverage. The mean price target of $171.16 reflects a 2.8% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
