Procter & Gamble (NYSE:PG) Price Target Raised to $190.00

Procter & Gamble (NYSE:PG) had its target price hoisted by Wells Fargo & Company from $188.00 to $190.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

PG has been the topic of a number of other research reports. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Evercore ISI boosted their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Thursday, August 29th. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.00.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $176.28 on Friday. The business has a fifty day simple moving average of $170.04 and a two-hundred day simple moving average of $168.66. The firm has a market capitalization of $415.15 billion, a P/E ratio of 30.39, a P/E/G ratio of 3.74 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 12 month low of $142.50 and a 12 month high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. On average, equities analysts forecast that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.28%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This trade represents a 12.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,673 shares of company stock valued at $10,102,753 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PG. Concurrent Investment Advisors LLC lifted its position in Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after buying an additional 4,035 shares during the last quarter. Radnor Capital Management LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter worth about $5,705,000. Welch Group LLC boosted its stake in shares of Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after purchasing an additional 2,990 shares during the period. Swiss National Bank grew its holdings in Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after purchasing an additional 39,000 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after purchasing an additional 10,777 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.