Vetr upgraded shares of Procter & Gamble Co. (NYSE:PG) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $93.00 price target on the stock.
A number of other equities analysts have also recently issued reports on PG. Jefferies Group started coverage on Procter & Gamble Co. in a report on Wednesday, June 15th. They set a buy rating and a $95.00 target price on the stock. Zacks Investment Research cut Procter & Gamble Co. from a hold rating to a sell rating in a report on Tuesday, June 28th. Goldman Sachs Group Inc. restated a neutral rating and set a $88.00 target price (up previously from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. Stifel Nicolaus raised their target price on Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a buy rating in a report on Friday, July 22nd. Finally, Deutsche Bank AG restated a buy rating and set a $92.00 target price (up previously from $85.00) on shares of Procter & Gamble Co. in a report on Sunday, July 24th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $90.21.
Procter & Gamble Co. (NYSE:PG) opened at 88.43 on Wednesday. The firm has a market cap of $236.00 billion, a P/E ratio of 23.94 and a beta of 0.54. The stock has a 50 day moving average price of $88.27 and a 200-day moving average price of $84.73. Procter & Gamble Co. has a one year low of $73.50 and a one year high of $90.33.
Procter & Gamble Co. (NYSE:PG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping 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 had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.83 billion. During the same quarter last year, the business earned $1.00 earnings per share. The company’s 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 fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be issued a dividend of $0.6695 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 19th. Procter & Gamble Co.’s payout ratio is presently 72.63%.
In related news, insider Juan Fernando Posada sold 3,501 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $89.50, for a total value of $313,339.50. Following the completion of the sale, the insider now directly owns 19,953 shares in the company, valued at approximately $1,785,793.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jon R. Moeller sold 272,591 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $85.94, for a total value of $23,426,470.54. Following the completion of the sale, the chief financial officer now owns 164,269 shares of the company’s stock, valued at $14,117,277.86. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. increased its stake in Procter & Gamble Co. by 10,454.9% in the second quarter. Cohen & Steers Inc. now owns 20,623,882 shares of the company’s stock valued at $4,473,320,000 after buying an additional 20,428,486 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Procter & Gamble Co. during the second quarter valued at about $426,390,000. Vanguard Group Inc. increased its stake in Procter & Gamble Co. by 1.8% in the second quarter. Vanguard Group Inc. now owns 167,926,302 shares of the company’s stock valued at $14,218,321,000 after buying an additional 3,029,476 shares during the period. BNP Paribas Arbitrage SA increased its stake in Procter & Gamble Co. by 198.8% in the third quarter. BNP Paribas Arbitrage SA now owns 4,367,095 shares of the company’s stock valued at $391,947,000 after buying an additional 2,905,755 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Procter & Gamble Co. by 33.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,700,307 shares of the company’s stock valued at $821,325,000 after buying an additional 2,454,215 shares during the period. Institutional investors and hedge funds own 58.99% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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