Vetr Inc. Downgrades Procter & Gamble Co. (PG) to Hold
Procter & Gamble Co. (NYSE:PG) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $92.75 price objective on the stock. Vetr‘s target price would suggest a potential upside of 4.14% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the stock. Jefferies Group reissued a “buy” rating and issued a $95.00 price target on shares of Procter & Gamble Co. in a report on Thursday, June 23rd. Stifel Nicolaus set a $93.00 target price on shares of Procter & Gamble Co. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Procter & Gamble Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $92.00 target price (up from $85.00) on shares of Procter & Gamble Co. in a research note on Sunday, July 24th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $88.00 target price (up from $81.00) on shares of Procter & Gamble Co. in a research note on Friday, July 15th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $89.49.
Shares of Procter & Gamble Co. (NYSE:PG) traded down 1.04% during trading on Monday, reaching $89.06. 15,492,383 shares of the company traded hands. The firm has a market capitalization of $237.68 billion, a price-to-earnings ratio of 24.11 and a beta of 0.54. The company has a 50 day moving average price of $88.14 and a 200 day moving average price of $84.61. Procter & Gamble Co. has a 12-month low of $73.50 and a 12-month high of $90.33.
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Procter & Gamble Co. (NYSE:PG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.83 billion. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, equities analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current year.
In related news, CEO David S. Taylor sold 72,525 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $85.76, for a total value of $6,219,744.00. Following the transaction, the chief executive officer now directly owns 136,933 shares of the company’s stock, valued at approximately $11,743,374.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Valarie L. Sheppard sold 32,532 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $86.90, for a total value of $2,827,030.80. Following the completion of the transaction, the senior vice president now directly owns 28,397 shares in the company, valued at $2,467,699.30. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PG. Americafirst Capital Management LLC acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $112,000. Signature Estate & Investment Advisors LLC acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $122,000. Global X Management Co. LLC boosted its position in Procter & Gamble Co. by 259.5% in the second quarter. Global X Management Co. LLC now owns 1,517 shares of the company’s stock worth $128,000 after buying an additional 1,095 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its position in Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock worth $156,000 after buying an additional 10 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $157,000. 58.86% 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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