Zacks Investment Research upgraded shares of Procter & Gamble (NYSE:PG) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $100.00 price target on the stock.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. The company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. P&G shares have also outperformed the industry in the last six months. Earnings estimates for fiscal 2018 and 2019 have also moved north over the last 30 days. However, slowing market growth, weak volumes and organic sales have been hurting sales. Soft consumer-spending environment in developed markets and uncertainties in emerging countries also add to the worries. That said, P&G is speeding up innovations and investments to counter the softening industry growth. Its productivity improvements and cost-saving efforts are also consistently helping to boost profit level.”
Other research analysts also recently issued research reports about the stock. Jefferies Group reissued a buy rating and set a $104.00 price objective (up previously from $103.00) on shares of Procter & Gamble in a report on Wednesday, September 20th. Bank of America increased their price objective on shares of Procter & Gamble from $98.00 to $100.00 and gave the company a buy rating in a report on Tuesday, September 19th. Royal Bank of Canada reissued a buy rating on shares of Procter & Gamble in a report on Monday, October 23rd. Vetr raised shares of Procter & Gamble from a hold rating to a buy rating and set a $93.02 price objective for the company in a report on Monday, October 23rd. Finally, Deutsche Bank started coverage on shares of Procter & Gamble in a report on Wednesday, December 13th. They set a buy rating and a $101.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $88.51.
Procter & Gamble (PG) traded up $0.89 on Tuesday, hitting $91.07. 9,360,000 shares of the company’s stock traded hands, compared to its average volume of 6,550,000. Procter & Gamble has a twelve month low of $85.42 and a twelve month high of $94.67. The company has a market cap of $231,040.00, a P/E ratio of 24.35, a PEG ratio of 2.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.75.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 20th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The business had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue was up .8% on a year-over-year basis. analysts forecast that Procter & Gamble will post 4.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be given a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, January 18th. Procter & Gamble’s dividend payout ratio is 73.80%.
In related news, insider Carolyn M. Tastad sold 5,300 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $89.18, for a total value of $472,654.00. Following the sale, the insider now directly owns 57,191 shares of the company’s stock, valued at approximately $5,100,293.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marylynn Fergusonmchugh sold 4,363 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $87.00, for a total transaction of $379,581.00. Following the completion of the sale, the insider now directly owns 85,495 shares in the company, valued at $7,438,065. The disclosure for this sale can be found here. Insiders have sold a total of 18,719 shares of company stock worth $1,661,544 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Asset Planning Services Ltd. raised its position in Procter & Gamble by 0.4% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after purchasing an additional 5 shares during the period. Harding Loevner LP purchased a new position in shares of Procter & Gamble during the second quarter worth approximately $119,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Procter & Gamble during the third quarter worth approximately $125,000. Blume Capital Management Inc. increased its position in shares of Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after acquiring an additional 300 shares during the period. Finally, Litman Gregory Asset Management LLC purchased a new position in shares of Procter & Gamble during the third quarter worth approximately $173,000. 59.57% of the stock is currently owned by institutional investors.
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Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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