Truist Financial Boosts Procter & Gamble (NYSE:PG) Price Target to $185.00

Procter & Gamble (NYSE:PG) had its price objective lifted by investment analysts at Truist Financial from $180.00 to $185.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 12.99% from the stock’s previous close.

A number of other brokerages also recently issued reports on PG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. UBS Group restated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Wells Fargo & Company upped their price objective on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Erste Group Bank raised Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.00.

Procter & Gamble Stock Performance

NYSE:PG opened at $163.73 on Thursday. The company has a market cap of $383.92 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a fifty day simple moving average of $169.17 and a two-hundred day simple moving average of $169.20.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 EPS. As a group, equities analysts anticipate that Procter & Gamble will post 6.91 earnings per share for the current fiscal year.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 in the last quarter. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Procter & Gamble in the fourth quarter worth $5,244,463,000. Raymond James Financial Inc. acquired a new position in shares of Procter & Gamble during the 4th quarter worth $1,010,685,000. Geode Capital Management LLC increased its holdings in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after purchasing an additional 2,973,757 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after buying an additional 2,846,560 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.