Procter & Gamble Company (The) (NYSE: PG) has slipped back into the spotlight for all the wrong reasons. As of December 3, 2025, the consumer‑staples giant’s stock is trading in the mid‑$140s, hovering near its lowest levels in almost two years after a stark warning from its chief financial officer about the health of the U.S. consumer. [1]
Yet underneath the weak share price, P&G is still generating steady earnings, robust cash flow, and billions in dividends and buybacks—while Wall Street’s 12‑month price targets point to mid‑teens upside from here. [2]
This deep dive rounds up the latest PG stock news, forecasts, and professional analysis as of December 3, 2025, and looks at what it could mean for investors heading into 2026.
Key takeaways on PG stock today
- Share price: Around $146–147 per share on December 3, 2025, up modestly on the day but still close to multi‑year lows. [3]
- Recent low: The stock recently touched a 52‑week low near $144, with some data showing intraday lows in the low $140s, leaving PG down about 17–18% over the past year. [4]
- CFO warning: At a Morgan Stanley conference on December 2, CFO Andre Schulten flagged a “more volatile” U.S. consumer, with October sales down “significantly” in both volume and value, and November expected to look similar. [5]
- Fundamentals: Fiscal 2025 revenue was about $84.3 billion (roughly flat year over year) and earnings grew about 7–8%, while organic sales and core EPS both continued to rise. [6]
- Dividend & cash returns: P&G has paid a dividend for 135 consecutive years and raised it for 69 straight years, returning around $71 billion to shareholders over the past decade via dividends and buybacks. TS2 Tech+1
- Analyst consensus: Most major analyst aggregators rate PG a “Moderate Buy” or “Buy” with average 12‑month price targets around $170–175, implying roughly 15–20% upside from current levels. [7]
PG stock today: why shares are under pressure
Market reaction to the CFO’s cautious outlook
On December 2, 2025, P&G shares fell sharply after CFO Andre Schulten spoke at the Morgan Stanley Global Consumer & Retail Conference. He described the U.S. backdrop as “more volatile, probably the most volatile we’ve seen in a long time,” pointing to: [8]
- “Nervous and cautious” consumers
- Significant declines in October U.S. sales, both in volume and value
- An expectation that November would not look materially better
- Headwinds from tariffs, a government shutdown, and delayed SNAP benefits, on top of tough comparisons after last year’s port strike‑driven stockpiling
Investors didn’t love that message. P&G’s stock dropped as much as about 3% intraday before closing the session down roughly 1.1%, marking its lowest level in roughly two years. [9]
A slide to 52‑week lows
The selling pressure didn’t stop there. In early trading on December 2, the stock:
- Hit a 52‑week low around $144.04, according to Investing.com, with a one‑year price change of ‑17.56%. [10]
- Has been flagged by MarketBeat and Morningstar as trading near its lowest closing levels since late 2023, and below both its 50‑ and 200‑day moving averages. [11]
By December 3, PG was back around $146–147, but the tone from the market is clear: investors are suddenly much more concerned about the near‑term U.S. demand picture, even for a defensive name like P&G. [12]
Under the hood: P&G’s fundamentals are still solid
Despite the stock’s rough patch, the underlying business remains profitable, cash‑generative, and globally diversified.
Fiscal 2025 and recent earnings
According to P&G’s 2025 annual report and recent filings: [13]
- Fiscal 2025 revenue: About $84.3 billion, up very modestly (~0.3%) year over year.
- Net income: Roughly $15.7 billion, up about 7–8%.
- Organic sales: Up 2% for the year, marking another year of positive top‑line growth.
- Core EPS: Up 4%, representing the ninth consecutive year of core earnings‑per‑share growth.
Earlier in 2025, the company reported fiscal Q2 2025 net sales of $21.9 billion, up 2%, with organic sales up 3% (volume +2%, mix +1%, pricing neutral). [14]
More recently, P&G’s fiscal Q1 2026 results (released before this week’s sell‑off) showed: [15]
- EPS of $1.99 vs $1.90 expected
- Revenue of $22.4 billion vs $22.18 billion expected
- Enough strength that UBS reiterated a Buy rating with a $176 price target after the print
This paints a picture of a business where earnings are still beating expectations, even as U.S. volumes wobble.
Profitability and cash generation
Independent analysis from Trefis highlights just how profitable P&G remains: [16]
- LTM revenue growth: 1.2% (3‑year average ~1.8%)
- LTM operating margin: ~24.1% vs an S&P 500 median near 18.8%
- LTM free cash flow margin: ~17.6% vs S&P median ~13.5%
- P/E multiple: About 21.5x, slightly lower than a broad‑market median of ~23.5x
In other words, while growth is slow, PG throws off a lot of cash at high margins, and the valuation is not excessively rich compared with other blue chips.
Restructuring, layoffs and a new CEO for 2026
7,000 job cuts and portfolio focus
The market’s anxiety isn’t only about demand; it’s also about P&G’s restructuring push.
On June 5, 2025, P&G announced plans to cut around 7,000 jobs over two years—roughly 6% of its workforce and about 15% of its global non‑production staff. [17]
Management framed the move as an “intentional acceleration” of its long‑term strategy, not a panic reaction, focusing the company more tightly on its largest and strongest brands while adjusting to tariffs and softer sales in certain markets. [18]
Alongside the layoffs, executives have flagged:
- Potential divestitures or exits in less‑strategic categories or regions [19]
- Increased use of automation and AI in corporate and technology functions, part of a broader wave of white‑collar cuts across large consumer companies in 2025 [20]
For long‑term shareholders, the key question is whether these cuts boost margins and reinvestment capacity—or whether they signal a structurally slower growth outlook.
Leadership change: Jejurikar to replace Moeller
On July 28, 2025, P&G’s board announced that Shailesh Jejurikar, currently chief operating officer and long‑time company veteran, will become President and CEO effective January 1, 2026. Current CEO Jon Moeller will move to the role of executive chairman. [21]
The company has emphasized that this is a managed, internal hand‑off rather than a strategic reset—a continuation of its tradition of promoting insiders to the top job. Analysts generally see the move as continuity plus fresh perspective, not a sign of crisis. TS2 Tech+1
The dividend and buyback story: why income investors still care
Even as the share price falls, P&G’s income profile remains one of its biggest attractions.
According to company disclosures and recent analysis: TS2 Tech+2StockAnalysis+2
- P&G has paid a dividend for 135 straight years.
- It has raised the dividend for 69 consecutive years, firmly in “Dividend King” territory.
- The current annual dividend is about $4.23 per share, or roughly $1.06 per quarter.
- At today’s mid‑$140s share price, that translates to a dividend yield around 2.8–2.9%.
- The payout ratio is typically around 60% of earnings, leaving room for both reinvestment and continued dividend growth.
Trefis estimates P&G has returned about $71 billion to shareholders over the last decade via dividends and buybacks, one of the largest capital‑return figures among U.S. companies. [22]
For dividend‑focused and defensive investors, that combination of long streak, moderate payout, and decent yield is a major part of the bull case—even if short‑term growth remains sluggish.
What Wall Street thinks: PG stock forecasts for 2026
Despite the recent sell‑off, analysts are far from abandoning P&G.
Consensus ratings and price targets
Here’s how major data providers stack up as of December 3, 2025:
- MarketBeat:
- Consensus rating: Moderate Buy (12 Buy, 9 Hold, 0 Sell) based on 21 analysts.
- Average 12‑month price target:$171.53
- Range:$153–$209
- Implied upside: ~17% from a current price around $146.6. [23]
- StockAnalysis:
- Consensus rating: Buy (14 analysts).
- Average price target:$174.43
- Implied upside: about 19% from the latest price. [24]
- ValueInvesting.io:
- Consensus rating: Buy from 35 analysts.
- Average target:$172.19
- Range:$146.90–$195.30
- Implied upside: ~16%. [25]
- TradingView / MarketWatch:
- Average target: roughly $170.
- Range:$153–$186
- Overall stance: Overweight or Buy on average. [26]
- Benzinga & JPMorgan snapshot:
Across these services, the cluster of targets sits in a tight band around $170–175, a clear signal that mainstream Wall Street still expects double‑digit total return potential (price appreciation plus dividend) over the next year—if the consumer environment doesn’t deteriorate further.
Fair‑value models: is PG undervalued?
Some recent valuation work goes a step further:
- A Yahoo Finance analysis using a two‑stage free‑cash‑flow‑to‑equity model estimates P&G’s fair value around $185 per share, implying the stock might be about 21% undervalued at current prices. [29]
- Trefis currently pegs intrinsic value near $180 with roughly 22–23% upside from market levels, citing strong margins and consistent cash returns. [30]
Those models aren’t guarantees, but they help explain why several research shops and quant platforms have upgraded or reiterated bullish views on P&G in recent weeks, even as headlines focus on near‑term demand worries. [31]
Why the market is still nervous
If PG is reasonably valued and analysts see upside, why is the stock stuck near a two‑year low?
Macro and consumer headwinds
The CFO’s comments and related coverage point to several overlapping risks: [32]
- Soft U.S. volumes: October sales down sharply in both volume and value, with November expected to look similar.
- Government policy and tariffs: Tariffs and a recent government shutdown have compounded pressure on household budgets and P&G’s own input costs.
- SNAP and low‑income consumers: Delayed or reduced SNAP benefits are hurting lower‑income shoppers, who are more likely to trade down to private‑label brands, a long‑running threat to premium consumer staples.
- Sector‑wide weakness: Many consumer staples names have lagged the broader market in 2025, as investors rotate toward higher‑growth and AI‑related stocks.
For a company long viewed as a bellwether of the American consumer, this combination raises questions about how much pricing power is left and whether volumes can re‑accelerate without heavy promotion. [33]
Restructuring execution risk
The 7,000‑job restructuring is designed to boost efficiency and fund growth in innovation and premium products, but it also adds: [34]
- Up‑front costs and disruption, especially in corporate and technology functions
- Potential cultural impact at a company historically known for lifetime careers
- Execution risk if brand divestitures or market exits don’t go as planned
Investors will be watching closely to see whether margin expansion and sustained top‑line growth actually materialize from these moves over the next 12–24 months.
How different investors might look at PG right now
This section is for general information only and is not personal investment advice.
For long‑term dividend and defensive investors
From an income and stability standpoint, PG still looks like a classic “sleep‑at‑night” holding:
- A near‑3% dividend yield backed by over a century of uninterrupted payments and nearly seven decades of hikes. TS2 Tech+1
- High and relatively stable operating and free‑cash‑flow margins. [35]
- A balance sheet and brand portfolio that have historically weathered recessions and inflation cycles.
For this audience, the current pullback could be viewed as an opportunity to lock in a better yield and a lower entry price, provided they are comfortable with slow growth and headline volatility.
For value and total‑return investors
Value‑oriented investors may focus on:
- P/E around 21x with EPS still growing mid‑single digits. [36]
- DCF and analyst target ranges that suggest potential undervaluation of 15–20%+. [37]
- The company’s track record of returning cash and maintaining pricing power in key categories. [38]
On the flip side, the slow revenue growth (around 1–2% annually in recent years) and macro uncertainty mean PG is unlikely to morph into a high‑growth story—even if the stock re‑rates higher.
For short‑term traders and tacticians
Short‑term traders will likely key off:
- The stock’s position near recent lows and long‑term moving averages, which can act as support or trigger further technical selling. [39]
- Upcoming catalysts such as next earnings, more detail on restructuring, and early signs of a U.S. volume rebound (or further weakness). [40]
- Sentiment from high‑profile commentators. For example, Jim Cramer recently told a viewer that if he wanted to start a position in P&G, he would “wait”, underscoring the view that investors might have time to be patient here. [41]
Bottom line: PG at a crossroads
As of December 3, 2025, Procter & Gamble stock is caught between two narratives:
- Near‑term caution – A nervous U.S. consumer, SNAP‑related pressure, tariff noise, and a restructuring that includes thousands of job cuts and brand rationalization. [42]
- Long‑term resilience – Durable brands, high margins, consistent dividend growth, and a broad analyst consensus that still sees mid‑teens upside plus a nearly 3% yield over the next 12 months. [43]
The incoming CEO, Shailesh Jejurikar, will inherit both stories on January 1, 2026. His ability to execute the restructuring, stabilize U.S. volumes, and keep premium brands growing will go a long way toward deciding whether today’s prices prove to be a buying opportunity or a value trap. [44]
For now, PG looks like what it has long been: a high‑quality, slow‑growth compounder whose stock can still be volatile when macro fears dominate the headlines.
This article is for informational and educational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any security. Always do your own research or consult a qualified financial adviser before making investment decisions.
References
1. www.investopedia.com, 2. stockanalysis.com, 3. www.marketbeat.com, 4. www.investing.com, 5. www.investopedia.com, 6. stockanalysis.com, 7. www.marketbeat.com, 8. www.investopedia.com, 9. www.investopedia.com, 10. www.investing.com, 11. www.marketbeat.com, 12. www.marketbeat.com, 13. www.pginvestor.com, 14. us.pg.com, 15. www.investing.com, 16. www.trefis.com, 17. www.reuters.com, 18. www.reuters.com, 19. www.wsws.org, 20. advertisingweek.com, 21. us.pg.com, 22. www.trefis.com, 23. www.marketbeat.com, 24. stockanalysis.com, 25. valueinvesting.io, 26. www.tradingview.com, 27. www.benzinga.com, 28. www.nasdaq.com, 29. finance.yahoo.com, 30. www.trefis.com, 31. stockanalysis.com, 32. www.investopedia.com, 33. www.investopedia.com, 34. www.reuters.com, 35. www.trefis.com, 36. stockanalysis.com, 37. finance.yahoo.com, 38. www.trefis.com, 39. www.marketbeat.com, 40. www.investing.com, 41. finance.yahoo.com, 42. www.investopedia.com, 43. stockanalysis.com, 44. us.pg.com
