Procter & Gamble (NYSE:PG) had its price target trimmed by Morgan Stanley from $92.00 to $85.00 in a report published on Thursday morning. The firm currently has an equal weight rating on the stock.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Procter & Gamble from a buy rating to a hold rating in a report on Wednesday, April 4th. Barclays set a $84.00 target price on shares of Procter & Gamble and gave the stock a hold rating in a report on Thursday, March 15th. Berenberg Bank started coverage on shares of Procter & Gamble in a report on Wednesday, February 28th. They set a sell rating and a $78.50 target price for the company. Vetr upgraded shares of Procter & Gamble from a buy rating to a strong-buy rating and set a $96.92 target price for the company in a report on Thursday, February 1st. Finally, JPMorgan Chase increased their target price on shares of Procter & Gamble from $90.00 to $98.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Procter & Gamble has an average rating of Hold and an average price target of $86.07.
Procter & Gamble stock opened at $78.43 on Thursday. The company has a market capitalization of $197,722.34, a PE ratio of 20.01, a P/E/G ratio of 2.46 and a beta of 0.57. Procter & Gamble has a twelve month low of $75.81 and a twelve month high of $94.67. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 0.41.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.05. The company had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.39 billion. Procter & Gamble had a net margin of 15.34% and a return on equity of 20.66%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. equities research analysts predict that Procter & Gamble will post 4.18 EPS for the current fiscal year.
In other Procter & Gamble news, insider Deborah P. Majoras sold 4,591 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $87.48, for a total value of $401,620.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marc S. Pritchard sold 46,842 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $89.01, for a total transaction of $4,169,406.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,011 shares of company stock valued at $9,710,976. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in shares of Procter & Gamble by 1,094.3% in the third quarter. Assenagon Asset Management S.A. now owns 736,699 shares of the company’s stock valued at $67,025,000 after purchasing an additional 675,013 shares during the period. Edgestream Partners L.P. increased its position in Procter & Gamble by 21.9% during the third quarter. Edgestream Partners L.P. now owns 7,543 shares of the company’s stock worth $686,000 after acquiring an additional 1,356 shares during the period. Asset Dedication LLC bought a new position in Procter & Gamble during the fourth quarter worth about $1,164,000. Spectrum Management Group Inc. increased its position in Procter & Gamble by 221.4% during the third quarter. Spectrum Management Group Inc. now owns 32,757 shares of the company’s stock worth $2,980,000 after acquiring an additional 22,565 shares during the period. Finally, Moller Financial Services increased its position in Procter & Gamble by 31.3% during the fourth quarter. Moller Financial Services now owns 11,887 shares of the company’s stock worth $1,092,000 after acquiring an additional 2,837 shares during the period. Hedge funds and other institutional investors own 60.98% of the company’s stock.
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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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