Zacks Investment Research upgraded shares of Procter & Gamble (NYSE:PG) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $87.00 target price 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 remains focused on balanced growth through improved product, packaging, and marketing initiatives and productivity cost-savings plan. However, P&G's shares have lost around 16.3% in the last six months, while its industry dipped 10.1%. Earnings estimates for fiscal 2018 have remained unchanged over the last seven days. 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.”
A number of other brokerages have also commented on PG. Jefferies Group reissued a buy rating and set a $99.00 price target on shares of Procter & Gamble in a research note on Monday, December 18th. Morgan Stanley lifted their price target on Procter & Gamble from $90.00 to $92.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price target on Procter & Gamble from $87.00 to $88.00 and gave the company a hold rating in a research note on Wednesday, January 24th. JPMorgan Chase lifted their price target on Procter & Gamble from $90.00 to $98.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Finally, Deutsche Bank initiated coverage on Procter & Gamble in a research note on Tuesday, December 19th. They set a buy rating and a $91.88 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Procter & Gamble presently has a consensus rating of Hold and a consensus price target of $86.07.
Procter & Gamble stock opened at $78.43 on Tuesday. Procter & Gamble has a 12-month low of $75.81 and a 12-month high of $94.67. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $198,655.11, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.57.
Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.05. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The firm had revenue of $17.40 billion for the quarter, compared to analysts’ expectations of $17.39 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. equities analysts anticipate that Procter & Gamble will post 4.18 earnings per share for the current fiscal year.
In related news, insider Marylynn Fergusonmchugh sold 2,353 shares of Procter & Gamble stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total value of $184,922.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Jon R. Moeller sold 3,252 shares of Procter & Gamble stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total value of $255,574.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,011 shares of company stock worth $9,710,976. 0.35% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PG. Truepoint Inc. lifted its stake in Procter & Gamble by 8,711.3% in the third quarter. Truepoint Inc. now owns 26,889,686 shares of the company’s stock valued at $26,890,000 after buying an additional 26,584,514 shares during the period. American International Group Inc. increased its holdings in shares of Procter & Gamble by 448.0% during the fourth quarter. American International Group Inc. now owns 6,567,310 shares of the company’s stock valued at $603,404,000 after acquiring an additional 5,368,843 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Procter & Gamble by 74.2% during the second quarter. Capital Research Global Investors now owns 12,389,104 shares of the company’s stock valued at $1,079,710,000 after acquiring an additional 5,278,359 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Procter & Gamble by 1,244.6% during the second quarter. Janus Henderson Group PLC now owns 4,500,564 shares of the company’s stock valued at $392,226,000 after acquiring an additional 4,165,862 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Procter & Gamble by 2.3% during the second quarter. Vanguard Group Inc. now owns 180,730,770 shares of the company’s stock valued at $15,750,688,000 after acquiring an additional 4,066,266 shares in the last quarter. 60.98% of the stock is currently owned by hedge funds and other 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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