Procter & Gamble Co. (PG) Lowered to Hold at Vetr Inc.
Procter & Gamble Co. (NYSE:PG) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $92.75 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 3.06% from the stock’s current price.
Several other brokerages have also recently issued reports on PG. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $88.00 target price (up previously from $81.00) on shares of Procter & Gamble Co. in a research report on Friday, July 15th. Jefferies Group started coverage on Procter & Gamble Co. in a research report on Wednesday, June 15th. They set a “buy” rating and a $95.00 target price on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $95.00 target price on shares of Procter & Gamble Co. in a research report on Saturday, August 13th. B. Riley reaffirmed a “neutral” rating and set a $74.00 target price on shares of Procter & Gamble Co. in a research report on Wednesday, August 3rd. Finally, Johnson Rice raised Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a research report on Friday, August 26th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $89.49.
Shares of Procter & Gamble Co. (NYSE:PG) opened at 90.00 on Monday. Procter & Gamble Co. has a 12-month low of $73.50 and a 12-month high of $90.22. The company’s 50-day moving average price is $88.09 and its 200 day moving average price is $84.54. The firm has a market capitalization of $240.19 billion, a PE ratio of 24.36 and a beta of 0.54.
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Procter & Gamble Co. (NYSE:PG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.83 billion. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. Procter & Gamble Co.’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. On average, equities analysts forecast that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
In related news, SVP Valarie L. Sheppard sold 32,532 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $86.90, for a total transaction of $2,827,030.80. Following the transaction, the senior vice president now directly owns 28,397 shares of the company’s stock, valued at approximately $2,467,699.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey K. Schomburger sold 2,603 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $87.16, for a total value of $226,877.48. Following the transaction, the insider now directly owns 33,188 shares in the company, valued at $2,892,666.08. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in PG. BlackRock Fund Advisors boosted its position in shares of Procter & Gamble Co. by 0.7% in the first quarter. BlackRock Fund Advisors now owns 35,929,242 shares of the company’s stock worth $2,957,336,000 after buying an additional 265,762 shares during the period. Ngam Advisors L.P. boosted its position in shares of Procter & Gamble Co. by 5.2% in the first quarter. Ngam Advisors L.P. now owns 598,608 shares of the company’s stock worth $49,271,000 after buying an additional 29,768 shares during the period. First Financial Bank N.A. Trust Division boosted its position in shares of Procter & Gamble Co. by 3.5% in the second quarter. First Financial Bank N.A. Trust Division now owns 343,217 shares of the company’s stock worth $29,060,000 after buying an additional 11,650 shares during the period. Marathon Asset Management LLP boosted its position in shares of Procter & Gamble Co. by 1.9% in the second quarter. Marathon Asset Management LLP now owns 2,051,718 shares of the company’s stock worth $173,719,000 after buying an additional 38,942 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Procter & Gamble Co. by 2.2% in the first quarter. Prudential Financial Inc. now owns 6,665,314 shares of the company’s stock worth $548,622,000 after buying an additional 145,882 shares during the period. 58.73% of the stock is currently owned by institutional investors.
About Procter & Gamble Co.
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
To view Vetr’s full report, visit Vetr’s official website.
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