Procter & Gamble Co. (PG) Rating Increased to Buy at Vetr Inc.
Procter & Gamble Co. (NYSE:PG) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $93.00 price target on the stock. Vetr‘s target price suggests a potential upside of 5.00% from the company’s previous close.
Other analysts have also issued research reports about the stock. B. Riley reissued a “neutral” rating and issued a $74.00 price target on shares of Procter & Gamble Co. in a report on Wednesday, August 3rd. Argus raised shares of Procter & Gamble Co. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $88.54 to $103.00 in a report on Wednesday. Stifel Nicolaus set a $93.00 price target on shares of Procter & Gamble Co. and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $88.00 price objective (up from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. Finally, Zacks Investment Research downgraded shares of Procter & Gamble Co. from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $90.21.
Procter & Gamble Co. (NYSE:PG) traded up 0.03% during mid-day trading on Wednesday, hitting $88.57. 17,118,011 shares of the stock were exchanged. The stock’s 50-day moving average is $88.23 and its 200 day moving average is $84.67. The company has a market capitalization of $236.37 billion, a PE ratio of 23.98 and a beta of 0.54. Procter & Gamble Co. has a 52 week low of $73.50 and a 52 week high of $90.33.
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Procter & Gamble Co. (NYSE:PG) last released its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.83 billion. During the same quarter in the previous year, the company earned $1.00 EPS. Procter & Gamble Co.’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Procter & Gamble Co. will post $0.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 21st will be given a dividend of $0.6695 per share. This represents a $2.68 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s dividend payout ratio is currently 72.63%.
In other Procter & Gamble Co. news, insider Jeffrey K. Schomburger sold 2,603 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $87.16, for a total transaction of $226,877.48. Following the completion of the sale, the insider now directly owns 33,188 shares in the company, valued at approximately $2,892,666.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jon R. Moeller sold 272,591 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $85.94, for a total value of $23,426,470.54. Following the sale, the chief financial officer now owns 164,269 shares of the company’s stock, valued at $14,117,277.86. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Several 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 hedge funds and other institutional investors.
Procter & Gamble Co. Company Profile
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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