Procter & Gamble (NYSE:PG) Price Target Raised to $164.00 at Royal Bank of Canada

Procter & Gamble (NYSE:PG) had its target price increased by Royal Bank of Canada from $157.00 to $164.00 in a report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

PG has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Procter & Gamble from $170.00 to $181.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. TD Cowen started coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a buy rating and a $189.00 price objective on the stock. Jefferies Financial Group lowered shares of Procter & Gamble from a buy rating to a hold rating and dropped their price objective for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a hold rating in a research note on Monday, July 22nd. Finally, Evercore ISI lifted their price objective on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an outperform rating in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of Moderate Buy and a consensus target price of $174.52.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $160.76 on Wednesday. The company’s fifty day moving average price is $166.18 and its 200 day moving average price is $161.88. Procter & Gamble has a 12 month low of $141.45 and a 12 month high of $170.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.73 and a quick ratio of 0.48. The firm has a market capitalization of $379.42 billion, a P/E ratio of 26.27, a P/E/G ratio of 3.03 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.33%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same period last year, the business earned $1.37 EPS. Procter & Gamble’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Procter & Gamble will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling

In related news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the completion of the transaction, the insider now owns 12,929 shares in the company, valued at approximately $2,168,451.88. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock worth $15,646,323 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advantage Trust Co bought a new position in shares of Procter & Gamble during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $31,000. Ruedi Wealth Management Inc. increased its position in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $33,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.