Procter & Gamble Company (The) (NYSE: PG) finished Thursday, December 18, 2025, on the back foot—even as the broader market posted solid gains—then nudged slightly higher in after-hours trading as investors digested a fresh round of analyst commentary and a volatile macro backdrop.
Below is a complete after-the-bell snapshot of PG stock, the biggest news and forecasts published today, and the key items to watch before Friday’s (Dec. 19) opening bell.
PG stock after the bell on Dec. 18: The numbers that matter
Regular-session close (Thu., Dec. 18): PG closed at $145.52, down 1.55% on the day. [1]
After-hours (as of 5:25 p.m. ET): PG ticked up to about $145.66 (roughly +0.10% vs. the close) on ~374,810 shares of extended-hours volume, according to MarketWatch’s delayed quote. [2]
Intraday range & context: In Thursday’s session, PG traded roughly between the mid-$145s and high-$147s, showing modest volatility but a clear fade versus the market’s risk-on tone. [3]
Bigger-picture level check: PG ended the day 19.15% below its 52-week high of $179.99 (set March 10, 2025), a reminder that the stock has been working back from a weaker stretch in late 2025. [4]
Why Procter & Gamble fell even as the market rose
Thursday was broadly constructive for U.S. equities: the S&P 500 rose 0.79%, the Dow gained 0.14%, and the Nasdaq jumped 1.38%—yet PG finished in the red, snapping a seven-session winning streak. [5]
So what changed?
1) A defensive lag in a “risk-on” tape
When investors lean into growth/tech (as they did Thursday), consumer staples can lag simply because the market is paying up for beta elsewhere. That relative rotation doesn’t require company-specific bad news—but it often shows up as underperformance in staple leaders like P&G. [6]
2) Analyst headlines shifted the near-term narrative
A key PG-specific headline Thursday was JPMorgan’s updated view, which lowered its price target to $157 from $165 while keeping a Neutral rating. [7]
Even if a target cut doesn’t change the business, it can influence positioning—especially when a stock has rallied for multiple sessions and is prone to profit-taking.
3) Macro turbulence: CPI “cooled,” but confidence in the data didn’t fully follow
The day’s biggest macro release was the U.S. Consumer Price Index report for November. The BLS reported CPI up 2.7% year over year and core CPI up 2.6%. [8]
However, multiple reports emphasized that recent data collection was disrupted by a prolonged government shutdown, adding uncertainty to how investors interpret the inflation signal. [9]
For PG, inflation matters in a very direct way: pricing power, promotional intensity, and input-cost pressure all feed into margins. A “cooling” print can help rate expectations and consumer sentiment—but if investors worry the data is distorted, the market may not reward defensives consistently in the same session.
Today’s key Wall Street takes on PG: JPMorgan trims, while the debate stays alive
JPMorgan: Target cut to $157, Neutral maintained
JPMorgan lowered PG’s price target to $157 from $165 and maintained Neutral, framing the call within a broader 2026 outlook for beverages/household/personal care that still looks “challenging,” even if some 2025 headwinds may fade as they are “lapped.” [10]
What investors typically read into that: a target cut doesn’t necessarily predict a near-term drop—but it suggests JPMorgan sees more limited upside from current levels unless execution and/or the operating backdrop improves.
Jefferies (from Wednesday, still driving today’s conversation): Upgrade to Buy, target raised to $179
One reason Thursday’s tape looked “conflicted” is that another widely-circulated note hit just a day earlier: Jefferies upgraded PG from Hold to Buy and raised its price target to $179 from $156, citing an improved consumer backdrop and a more constructive setup. [11]
Net takeaway: Investors went into Thursday with fresh bullish framing from Jefferies and then got a more cautious target trim from JPMorgan—a classic recipe for choppy price action after a multi-day run.
Forecasts published today: what analysts expect next for Procter & Gamble
Even though PG isn’t in an earnings window this week, several outlets publishing Thursday tied PG’s move to forward expectations:
Next-quarter expectations (consensus snapshots)
Zacks’ syndicated market note published on Nasdaq highlighted these consensus forecasts for PG’s next report:
- EPS forecast:$1.88
- Revenue forecast:$22.34 billion (about +2.08% vs. year-ago quarter in that note) [12]
It also cited full-year consensus estimates of:
- FY EPS:$7.01
- FY revenue:$86.93 billion [13]
Street price targets: “upside” exists, but dispersion is wide
One of the most-cited roundups Thursday put PG’s average price target in the low $170s, implying meaningful upside from the mid-$140s—yet also noted many firms have been adjusting targets in both directions. [14]
A separate analyst-aggregation snapshot put the average target in the mid-$170s range as well. [15]
How to interpret this before Friday’s open: price targets are not short-term calls. But when targets cluster well above spot, the market is usually debating timing and confidence (growth durability, margin trajectory, FX, and consumer elasticity), not whether PG is “viable.”
Dividend angle: still part of the PG thesis
For many investors, PG’s appeal is stability plus income. Recent data lists PG’s annual dividend at $4.23 per share with an indicated yield around ~2.9% at current prices. [16]
The catalyst calendar: what’s next for PG as 2026 approaches
Leadership transition: a new CEO arrives January 1, 2026
P&G previously announced that COO Shailesh Jejurikar will become CEO on January 1, 2026, with Jon Moeller moving to executive chairman. [17]
Investors often watch leadership transitions for shifts in:
- portfolio strategy
- cost discipline / productivity targets
- price-pack architecture and innovation cadence
Pricing, tariffs, and consumer behavior remain center-stage
In 2025 reporting, P&G has pointed to tariffs and cost inflation as drivers that can lead to select price increases (paired with product improvements), while also acknowledging a cautious consumer environment. [18]
Next confirmed company event: Q2 FY2026 earnings call (anticipated)
On P&G’s investor relations calendar, the Q2 FY2026 earnings conference call is listed for January 22, 2026 at 8:30 a.m. ET (anticipated). [19]
That event is likely to be the next major, scheduled catalyst where investors can evaluate:
- pricing vs. volume mix
- margin performance
- category growth (Beauty, Fabric & Home Care, etc.)
- updated outlook language into calendar 2026
What to know before the stock market opens tomorrow (Friday, Dec. 19, 2025)
Here’s a practical pre-open checklist tailored to PG holders and watchers:
1) Watch whether the after-hours “green” holds into premarket
PG’s after-hours move was small (about a tenth of a percent), which often signals no new breaking headline—but premarket flows can change quickly if additional analyst notes or macro commentary hit overnight. [20]
2) Macro watch: rate expectations after Thursday’s CPI surprise
Thursday’s CPI came in cooler than some forecasts (CPI 2.7%, core 2.6% y/y), but coverage also emphasized potential distortions tied to data disruptions. [21]
Why it matters for PG into Friday’s open:
- Lower yields can support dividend-paying defensives on valuation
- But uncertainty around inflation data quality can keep traders cautious
3) Friday’s key data drops are after the open, but can move defensives
According to the New York Fed’s economic calendar for Friday, Dec. 19, 2025, investors will be watching:
- Michigan Consumer Survey (Final) – 10:00 a.m. ET
- NAR Existing Home Sales – 10:00 a.m. ET
- New York Fed Staff Nowcast – 11:45 a.m. ET [22]
Even though these land mid-morning, futures often “price” the risk premarket—especially into a session expected to have heavy derivatives-related flow.
4) Tomorrow is a quarterly options expiration day—expect volume and possible volatility
Friday, Dec. 19, 2025, is listed among the year’s quarterly “quadruple witching” dates (when multiple derivatives contracts expire), which can amplify volume and sometimes create unusual late-day moves. [23]
This doesn’t predict direction for PG—but it’s a reason many traders reduce confidence in “clean” price signals from a single day’s close.
5) Holiday-week market mechanics: liquidity can change fast
U.S. exchanges have also clarified the holiday schedule: markets are expected to be open on Dec. 24 (early close) and open on Dec. 26, even with federal office closures on those dates. [24]
Lower liquidity conditions can matter for mega-caps too—especially for staples where institutions may rebalance before year-end.
Bottom line for PG stock heading into Friday’s open
P&G shares fell 1.55% Thursday to $145.52 in a session where the broader market advanced, then edged up modestly after hours—a sign that investors may be treating the decline as positioning + headline digestion rather than a major new fundamental break. [25]
The most actionable “before the bell” items for Friday are:
- follow-through (or reversal) in premarket trading,
- any additional analyst reactions after JPMorgan’s target cut,
- and the market-wide impact of options expiration dynamics plus mid-morning economic releases. [26]
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. www.investing.com, 4. www.marketwatch.com, 5. www.marketwatch.com, 6. www.nasdaq.com, 7. www.tipranks.com, 8. www.bls.gov, 9. www.reuters.com, 10. www.tipranks.com, 11. www.investing.com, 12. www.nasdaq.com, 13. www.nasdaq.com, 14. www.marketbeat.com, 15. stockanalysis.com, 16. www.marketbeat.com, 17. www.reuters.com, 18. apnews.com, 19. www.pginvestor.com, 20. www.marketwatch.com, 21. www.bls.gov, 22. www.newyorkfed.org, 23. www.investopedia.com, 24. www.reuters.com, 25. www.marketwatch.com, 26. www.tipranks.com
