Procter & Gamble (NYSE:PG) Price Target Raised to $160.00

Procter & Gamble (NYSE:PG) had its target price boosted by equities research analysts at DA Davidson from $159.00 to $160.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential downside of 6.59% from the company’s previous close.

Other analysts also recently issued reports about the company. Citigroup upped their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. BNP Paribas started coverage on shares of Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Piper Sandler assumed coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $171.28 on Monday. The company has a market capitalization of $404.24 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.74 and a beta of 0.41. The stock’s 50 day moving average is $171.77 and its 200-day moving average is $167.24. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. Procter & Gamble has a 12 month low of $142.50 and a 12 month high of $177.94.

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

Insider Buying and Selling

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on 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 sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock valued at $65,140,718 over the last quarter. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently made changes to their positions in PG. Legal & General Group Plc increased its position in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after purchasing an additional 545,601 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Procter & Gamble by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after purchasing an additional 79,665 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Procter & Gamble by 3.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after purchasing an additional 216,300 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.