Procter & Gamble Co. (NYSE:PG) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $93.00 price objective on the stock. Vetr‘s price objective would suggest a potential upside of 5.39% from the company’s previous close.
A number of other equities research analysts also recently issued reports on PG. Jefferies Group initiated coverage on Procter & Gamble Co. in a research report on Wednesday, June 15th. They set a “buy” rating and a $95.00 price target for the company. Zacks Investment Research downgraded Procter & Gamble Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $88.00 target price (up previously from $81.00) on shares of Procter & Gamble Co. in a research report on Friday, July 15th. Stifel Nicolaus upped their target price on Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $92.00 target price (up previously from $85.00) on shares of Procter & Gamble Co. in a research report on Sunday, July 24th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $90.21.
Procter & Gamble Co. (NYSE:PG) opened at 88.24 on Wednesday. Procter & Gamble Co. has a 1-year low of $73.50 and a 1-year high of $90.33. The company’s 50-day moving average price is $88.25 and its 200-day moving average price is $84.69. The stock has a market cap of $235.49 billion, a P/E ratio of 23.89 and a beta of 0.54.
Procter & Gamble Co. (NYSE:PG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The firm earned $16.10 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be issued a $0.6695 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s dividend payout ratio (DPR) is 72.63%.
In other Procter & Gamble Co. news, CEO David S. Taylor sold 72,525 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $85.76, for a total transaction of $6,219,744.00. Following the completion of the transaction, the chief executive officer now directly owns 136,933 shares of the company’s stock, valued at approximately $11,743,374.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Juan Fernando Posada sold 3,501 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $89.50, for a total value of $313,339.50. Following the transaction, the insider now directly owns 19,953 shares of the company’s stock, valued at $1,785,793.50. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PG. Vanguard Group Inc. raised its position in shares of Procter & Gamble Co. by 1.8% in the second quarter. Vanguard Group Inc. now owns 167,926,302 shares of the company’s stock worth $14,218,321,000 after buying an additional 3,029,476 shares during the last quarter. State Street Corp raised its position in shares of Procter & Gamble Co. by 1.1% in the first quarter. State Street Corp now owns 116,920,706 shares of the company’s stock worth $9,623,755,000 after buying an additional 1,310,690 shares during the last quarter. Capital World Investors raised its position in shares of Procter & Gamble Co. by 0.7% in the second quarter. Capital World Investors now owns 53,097,172 shares of the company’s stock worth $4,495,738,000 after buying an additional 376,640 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Procter & Gamble Co. by 5.5% in the second quarter. BlackRock Fund Advisors now owns 37,893,606 shares of the company’s stock worth $3,208,452,000 after buying an additional 1,964,364 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Procter & Gamble Co. by 1.1% in the second quarter. BlackRock Group LTD now owns 23,158,248 shares of the company’s stock worth $1,960,808,000 after buying an additional 249,455 shares during the last quarter. 58.86% of the stock is owned by hedge funds and other institutional investors.
About Procter & Gamble Co.
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.