Procter & Gamble (NYSE:PG) Given New $186.00 Price Target at JPMorgan Chase & Co.

Procter & Gamble (NYSE:PG) had its price target raised by JPMorgan Chase & Co. from $179.00 to $186.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

PG has been the subject of several other research reports. Dbs Bank downgraded shares of Procter & Gamble from a strong-buy rating to a hold rating in a research note on Thursday, August 1st. Wolfe Research raised Procter & Gamble to a strong-buy rating in a research report on Friday, August 23rd. TD Cowen began coverage on Procter & Gamble in a report on Tuesday, July 23rd. They set a buy rating and a $189.00 target price on the stock. DZ Bank upgraded Procter & Gamble from a hold rating to a buy rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Finally, Barclays cut their price objective on Procter & Gamble from $174.00 to $163.00 and set an overweight rating on the stock in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble has a consensus rating of Moderate Buy and an average target price of $176.16.

Procter & Gamble Trading Down 1.4 %

Shares of PG stock opened at $171.54 on Thursday. Procter & Gamble has a twelve month low of $141.45 and a twelve month high of $177.94. The stock’s fifty day simple moving average is $170.06 and its 200 day simple moving average is $165.59. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $404.86 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 earnings per share. As a group, sell-side analysts predict that Procter & Gamble will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.35%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the 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 transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jon R. Moeller sold 72,174 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were 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 directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock valued at $63,829,141 in the last three months. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

Several institutional investors and hedge funds have recently modified their holdings of PG. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble during the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble in the 2nd quarter valued at about $29,000. Ruedi Wealth Management Inc. lifted its position in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $31,000. 65.77% of the stock is owned by hedge funds and other 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.