New York, Jan 24, 2026, 11:31 AM EST — Market closed.
- P&G ended Friday just a bit up, following a steep jump right after its earnings release the previous day.
- Wall Street showed renewed optimism as JPMorgan upgraded the stock and BofA raised its price target slightly.
- Investors are gearing up for next week, focused on U.S. demand indicators and the Federal Reserve’s meeting on Jan. 27–28.
Procter & Gamble shares ended Friday up 0.15% at $150.15, wrapping the week on a steady note following a more volatile move on earnings day.
This is crucial because P&G is at the heart of the consumer-spending argument. When shoppers cut back on essentials, volumes drop quickly — and that usually drags the wider staples sector down with it.
Rates play a role as well. When Treasury yields climb, defensive stocks can start to appear pricey fast. Investors often link P&G’s next move to both consumer demand and the broader macro picture.
P&G reported fiscal second-quarter net sales up 1% to $22.2 billion. Organic sales, which exclude currency effects and acquisitions or divestitures, were flat as price hikes offset a 1% volume decline. Core EPS, excluding certain one-time items, came in at $1.88. The company returned $4.8 billion to shareholders via dividends and buybacks. It maintained its full-year sales and core EPS guidance but revised its all-in EPS growth forecast to 1%–6%, citing tariff-related costs of roughly $400 million after tax. CEO Shailesh Jejurikar said P&G remains “on track” and anticipates a stronger second half. 1
Reuters noted the quarter still revealed pressure in crucial U.S. segments like laundry and family care, as lower-income households felt the pinch after a government shutdown delayed food aid payments in October and November. Finance chief Andre Schulten told analysts, “We need to get the U.S. growing.” Brian Mulberry of Zacks Investment Management said consumers are “making choices driven by cost” when it comes to detergent and bleach. David Wagner at Aptus Capital Advisors suggested the market might overlook the organic-sales miss given how bleak sentiment had been. 2
The stock followed the split closely, with P&G climbing 2.65% on Thursday before inching up another 0.15% on Friday. 3
Analyst calls came in quickly. JPMorgan bumped P&G to Overweight from Neutral, raising its price target to $165 from $157. Andrea Teixeira highlighted a faster organic sales growth path and improved margins as comparisons get easier. BofA Securities nudged its target up slightly to $171 from $170, maintaining a Buy rating after the company’s guidance stayed solid. 4
Staples led the way in the tape. The consumer-staples ETF XLP added 0.75% on Friday. P&G’s advance was mild compared to others: Unilever jumped 2.24%, Colgate-Palmolive rose about 1%, and Kimberly-Clark barely moved. The S&P 500 ETF SPY stayed flat; the Dow ETF DIA dipped 0.56%, while the Nasdaq-100 proxy QQQ inched up 0.31%.
A regulatory filing revealed that P&G submitted its earnings presentation to the SEC in an 8-K linked to the Jan. 22 results. 5
But the situation cuts both ways. P&G’s slides showed core gross margin dropping 50 basis points and core operating margin falling 70 basis points (a basis point equals one-hundredth of a percentage point). The company also flagged several potential headwinds not included in its guidance — such as a sharp slowdown in market growth, spikes in commodity costs, and “significant tariff changes.” 6
Markets are closed Saturday, leaving Monday’s reopening as the next event to watch. Investors will also focus on the Federal Reserve meeting on Jan. 27–28, with the rate decision set for Jan. 28. That outcome will heavily influence how dividend-rich staples like P&G are valued. 7
