Procter & Gamble (NYSE:PG – Free Report) had its target price boosted by Wells Fargo & Company from $176.00 to $180.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.
A number of other research firms also recently commented on PG. UBS Group reduced their target price on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays upped their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday. Evercore ISI lifted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $180.53.
Read Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Stock Down 1.0 %
Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21,657,595.49 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 18.35%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. As a group, analysts expect that Procter & Gamble will post 6.94 EPS for the current year.
Procter & Gamble Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.17%.
Insider Activity
In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Institutional Trading of Procter & Gamble
A number of institutional investors and hedge funds have recently made changes to their positions in PG. Concurrent Investment Advisors LLC increased its stake in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Copley Financial Group Inc. purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth about $668,000. Fortem Financial Group LLC acquired a new stake in Procter & Gamble during the 4th quarter worth approximately $569,000. Nordea Investment Management AB lifted its position in Procter & Gamble by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after buying an additional 201,695 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after buying an additional 6,077 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Procter & Gamble Company Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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