Wells Fargo & Company Lowers Procter & Gamble (NYSE:PG) Price Target to $176.00

Procter & Gamble (NYSE:PG) had its price target reduced by equities researchers at Wells Fargo & Company from $190.00 to $176.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.76% from the stock’s current price.

PG has been the topic of several other research reports. Morgan Stanley increased their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Evercore ISI upped their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research note on Monday, September 30th. Finally, DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research note on Friday, December 27th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.75.

Procter & Gamble Price Performance

PG stock traded up $1.22 during trading on Tuesday, hitting $161.82. 1,229,018 shares of the company’s stock traded hands, compared to its average volume of 5,081,842. Procter & Gamble has a 52 week low of $146.28 and a 52 week high of $180.43. The stock has a market capitalization of $381.09 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 3.70 and a beta of 0.45. The business has a fifty day simple moving average of $170.03 and a 200 day simple moving average of $169.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

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

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 over the last ninety days. 0.18% of the stock is owned by company insiders.

Institutional Trading of Procter & Gamble

Hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in Procter & Gamble in the 3rd quarter worth approximately $33,000. Quest Partners LLC purchased a new stake in Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors 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.