Procter & Gamble (NYSE:PG) Cut to “Equal Weight” at Barclays

Procter & Gamble (NYSE:PG) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat reports. They presently have a $163.00 price target on the stock. Barclays‘s price target suggests a potential downside of 5.82% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. 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 report on Thursday, July 18th. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. TD Cowen began coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. Finally, Citigroup lifted their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.89.

Procter & Gamble Stock Performance

Shares of PG stock opened at $173.07 on Monday. The company has a market capitalization of $408.47 billion, a P/E ratio of 28.28, a P/E/G ratio of 3.76 and a beta of 0.41. The business’s 50 day moving average is $171.01 and its two-hundred day moving average is $166.36. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. Procter & Gamble has a 12-month low of $141.45 and a 12-month high of $177.94.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Procter & Gamble will post 6.97 EPS for the current fiscal year.

Insider Buying and Selling at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 in the last ninety days. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PG. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble during the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble in the second quarter worth $29,000. Ruedi Wealth Management Inc. lifted its position in shares of Procter & Gamble by 64.7% in the first 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. POM Investment Strategies LLC purchased a new stake in Procter & Gamble in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $31,000. 65.77% of the stock is currently owned by institutional investors.

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.