Procter & Gamble Co. (NYSE:PG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. However, it has been struggling over the past few quarters to boost sales. Significant negative Fx impact, weak volumes, divestures and slowing market growth have been hurting sales. That said, the company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. The portfolio-reshaping plan, though hurting near-term sales/profits, will ultimately increase profitability. Importantly, its productivity improvements and aggressive cost-saving efforts have consistently improved margins with the trend expected to continue in future quarters. Meanwhile, estimates have been stable lately ahead of the P&G’s first quarter earnings release.”
A number of other research analysts have also commented on the company. Vetr upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday. Argus upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and upped their price target for the stock from $88.54 to $103.00 in a report on Wednesday. Johnson Rice upgraded Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a report on Friday, August 26th. B. Riley upgraded Procter & Gamble Co. to a “buy” rating and set a $105.00 price target for the company in a report on Saturday, August 20th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $95.00 price target on shares of Procter & Gamble Co. in a report on Saturday, August 13th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $90.21.
Shares of Procter & Gamble Co. (NYSE:PG) traded up 0.5257% during trading on Friday, hitting $88.7039. 3,540,582 shares of the stock traded hands. Procter & Gamble Co. has a 52 week low of $73.50 and a 52 week high of $90.33. The firm’s 50-day moving average price is $88.25 and its 200-day moving average price is $84.69. The company has a market cap of $236.73 billion, a price-to-earnings ratio of 24.0130 and a beta of 0.54.
Procter & Gamble Co. (NYSE:PG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $15.83 billion. During the same period in the previous year, the company earned $1.00 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 21st will be paid a $0.6695 dividend. This represents a $2.68 annualized dividend and a yield of 3.03%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s payout ratio is 72.63%.
In other news, CEO David S. Taylor sold 72,525 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 136,933 shares of the company’s stock, valued at $11,743,374.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Juan Fernando Posada sold 3,501 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $89.50, for a total value of $313,339.50. Following the sale, the insider now directly owns 19,953 shares in the company, valued at approximately $1,785,793.50. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Moreno Evelyn V raised its stake in Procter & Gamble Co. by 3.3% in the first quarter. Moreno Evelyn V now owns 48,230 shares of the company’s stock worth $3,970,000 after buying an additional 1,550 shares in the last quarter. Rosenbaum Jay D. raised its stake in Procter & Gamble Co. by 5.4% in the first quarter. Rosenbaum Jay D. now owns 18,446 shares of the company’s stock worth $1,518,000 after buying an additional 940 shares in the last quarter. City Holding Co. raised its stake in Procter & Gamble Co. by 3.2% in the first quarter. City Holding Co. now owns 51,071 shares of the company’s stock worth $4,203,000 after buying an additional 1,575 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Procter & Gamble Co. by 15.6% in the first quarter. Carroll Financial Associates Inc. now owns 40,654 shares of the company’s stock worth $3,346,000 after buying an additional 5,497 shares in the last quarter. Finally, HHG & Company LLC raised its stake in Procter & Gamble Co. by 2.6% in the first quarter. HHG & Company LLC now owns 41,404 shares of the company’s stock worth $3,408,000 after buying an additional 1,054 shares in the last quarter. 58.86% of the stock is currently owned by institutional investors.
Procter & Gamble Co. Company Profile
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.
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