NEW YORK, Jan 26, 2026, 12:09 EST — Regular session
- Procter & Gamble shares dipped slightly around midday, trailing behind a broader uptick on Wall Street.
- After P&G maintained its full-year outlook and signaled gains in the second half, analysts boosted their price targets.
- The Fed’s decision on Jan. 28 is the next major macro event, with the spotlight on interest rates and consumer demand.
Procter & Gamble shares dipped Monday, with PG falling roughly 0.7% to $149.11 by midday. The stock traded within a narrow band, bouncing between $149.07 and $150.83 during the session.
U.S. stocks gained ground ahead of a packed week featuring mega-cap tech earnings and a Federal Reserve policy announcement. At the same time, gold hit record highs as safe-haven buying ramped up. 1
P&G often serves as a defensive pick for funds. Investors flock to staples when growth falters — that is, until bond yields rise and shift the calculations.
Consumer staples showed some weakness today. The Consumer Staples Select Sector SPDR Fund (XLP) slipped around 0.2%. Colgate-Palmolive dropped about 1.2%, Kimberly-Clark edged down roughly 0.3%, and Church & Dwight remained mostly flat.
Late last week brought a wave of bullish notes, pushing P&G into the spotlight this Monday. JPMorgan upgraded the stock to Overweight and boosted its price target to $165. Analyst Andrea Teixeira described the company as “poised to accelerate organic sales growth.” On the recent earnings call, CFO Andre Schulten emphasized management’s “objective to leave the year with share growth.” 2
Wells Fargo raised its price target to $165, describing the quarter as meeting “a low bar” but leaving room for “better prospects in the second half.” The bank highlighted steady international trends, though it singled out the U.S. consumer environment as the key variable. 3
P&G reported second-quarter net sales up 1% to $22.2 billion, with organic sales flat and core earnings per share steady at $1.88. Organic sales strip out currency effects, acquisitions, and divestitures to highlight underlying demand. The company maintained its full-year core EPS forecast at $6.83 to $7.09. Tariff costs are now expected to total about $400 million after tax. CEO Shailesh Jejurikar said the results “keep us on track” amid a “challenging consumer and geopolitical environment.” 4
After the earnings release, P&G submitted its quarterly 10-Q along with supplemental materials related to the call. Investors typically dig through these filings for insights on category volumes, margin challenges, and restructuring costs. 5
The tug-of-war is familiar: P&G can hold margins through pricing and product mix, but only so far. When shoppers hunt for bargains or shift to cheaper options, volume beats price every time.
The recent update pointed to softer U.S. spending in key categories, with volumes down across most of P&G’s product lines. Tariffs and a shift toward smaller, cheaper packs are squeezing margins, tightening the cushion if demand weakens again. 6
The Fed’s Jan. 27-28 meeting is looming, with the rate decision set for Jan. 28 — a key event that could shake up valuations in the market’s defensive sectors. Traders are also keeping an eye on this week’s data for clues about whether the U.S. consumer will hold steady through spring, especially for P&G. 7
