Procter & Gamble (NYSE:PG) had its target price lifted by Bank of America from $92.00 to $95.00 in a report issued on Tuesday morning, MarketBeat reports. They currently have a neutral rating on the stock.
Several other research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Procter & Gamble from a sell rating to a hold rating in a research note on Wednesday, October 24th. ValuEngine upgraded shares of Procter & Gamble from a hold rating to a buy rating in a research note on Wednesday, October 24th. Stifel Nicolaus restated a hold rating and set a $87.00 price objective on shares of Procter & Gamble in a research note on Monday, October 22nd. Deutsche Bank boosted their price objective on shares of Procter & Gamble from $81.00 to $84.00 and gave the stock a hold rating in a research note on Wednesday, August 1st. Finally, Wells Fargo & Co restated a hold rating on shares of Procter & Gamble in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $88.38.
NYSE:PG traded up $1.05 on Tuesday, hitting $92.41. 10,713,479 shares of the company’s stock were exchanged, compared to its average volume of 13,474,850. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.80 and a quick ratio of 0.62. Procter & Gamble has a 52 week low of $70.73 and a 52 week high of $93.14. The stock has a market capitalization of $230.14 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 19th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.45 billion. During the same period in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts anticipate that Procter & Gamble will post 4.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be paid a $0.7172 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a yield of 3.10%. Procter & Gamble’s dividend payout ratio (DPR) is currently 68.01%.
In other Procter & Gamble news, CEO David S. Taylor sold 63,113 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $91.68, for a total transaction of $5,786,199.84. Following the transaction, the chief executive officer now owns 226,393 shares in the company, valued at approximately $20,755,710.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Deborah P. Majoras sold 1,980 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $81.35, for a total transaction of $161,073.00. Following the transaction, the insider now owns 50,074 shares in the company, valued at approximately $4,073,519.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,302 shares of company stock worth $13,438,363. 1.84% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in PG. Bank of New York Mellon Corp grew its position in shares of Procter & Gamble by 5,578,292.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,377,577 shares of the company’s stock worth $2,028,947,000 after purchasing an additional 24,377,140 shares in the last quarter. Phocas Financial Corp. grew its position in shares of Procter & Gamble by 99,943.2% during the 2nd quarter. Phocas Financial Corp. now owns 7,573,274 shares of the company’s stock worth $591,000 after purchasing an additional 7,565,704 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Procter & Gamble by 63.1% during the 1st quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock worth $883,964,000 after purchasing an additional 4,315,180 shares in the last quarter. BlackRock Inc. grew its position in shares of Procter & Gamble by 2.2% during the 2nd quarter. BlackRock Inc. now owns 166,150,277 shares of the company’s stock worth $12,969,690,000 after purchasing an additional 3,551,051 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $241,094,000. Hedge funds and other institutional investors own 58.54% of the company’s stock.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
Further Reading: Retained Earnings
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