Procter & Gamble (NYSE:PG) Trading 0.2% Higher After Analyst Upgrade

The Procter & Gamble Company (NYSE:PG)’s share price shot up 0.2% on Tuesday after Morgan Stanley raised their price target on the stock from $174.00 to $191.00. Morgan Stanley currently has an overweight rating on the stock. Procter & Gamble traded as high as $170.73 and last traded at $169.92. 2,428,094 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 6,666,199 shares. The stock had previously closed at $169.54.

Other research analysts have also issued research reports about the stock. Evercore ISI raised their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. raised their price objective 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. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 7,007 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the completion of the sale, the chief executive officer now owns 269,172 shares of the company’s stock, valued at approximately $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,194 shares of company stock worth $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of hedge funds have recently made changes to their positions in PG. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the second quarter worth $29,000. Ruedi Wealth Management Inc. increased its stake in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth $34,000. Finally, Quest Partners LLC bought a new position in shares of Procter & Gamble in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.2 %

The stock has a market cap of $401.13 billion, a P/E ratio of 27.76, a PEG ratio of 3.74 and a beta of 0.41. The stock’s fifty day simple moving average is $171.82 and its 200-day simple moving average is $167.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s payout ratio is 65.69%.

Procter & Gamble Company Profile

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.