The Procter & Gamble Company (NYSE:PG – Get Free Report)’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.
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Insider Buying and Selling at Procter & Gamble
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 – Get Free Report) 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.
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