Procter & Gamble Co. (PG) Upgraded by Argus to “Buy”
Procter & Gamble Co. (NYSE:PG) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Other research analysts have also issued research reports about the company. B. Riley reiterated a “neutral” rating and set a $74.00 target price on shares of Procter & Gamble Co. in a research report on Wednesday, August 3rd. Vetr raised Procter & Gamble Co. from a “sell” rating to a “buy” rating and set a $89.50 price objective for the company in a research note on Wednesday, June 15th. Stifel Nicolaus set a $93.00 price objective on Procter & Gamble Co. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $88.00 price objective (up from $81.00) on shares of Procter & Gamble Co. in a research note on Friday, July 15th. Finally, Zacks Investment Research downgraded Procter & Gamble Co. from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Procter & Gamble Co. has a consensus rating of “Buy” and a consensus price target of $89.49.
Shares of Procter & Gamble Co. (NYSE:PG) opened at 88.54 on Wednesday. Procter & Gamble Co. has a 1-year low of $73.50 and a 1-year high of $90.33. The company has a market capitalization of $236.29 billion, a price-to-earnings ratio of 23.97 and a beta of 0.54. The firm’s 50-day moving average is $88.19 and its 200-day moving average is $84.64.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/procter-gamble-co-pg-upgraded-by-argus-to-buy.html
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 analysts’ consensus estimates of $0.74 by $0.05. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.83 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts forecast that Procter & Gamble Co. will post $0.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st will be paid a $0.6695 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s payout ratio is presently 72.63%.
In other news, insider Charles E. Pierce sold 55,127 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $86.07, for a total transaction of $4,744,780.89. Following the sale, the insider now owns 60,632 shares of the company’s stock, valued at approximately $5,218,596.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Taylor sold 72,525 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 136,933 shares in the company, valued at approximately $11,743,374.08. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. HHG & Company LLC raised its stake in shares of Procter & Gamble Co. by 2.6% in the first quarter. HHG & Company LLC now owns 41,404 shares of the company’s stock valued at $3,408,000 after buying an additional 1,054 shares during the period. Ronna Sue Cohen raised its stake in shares of Procter & Gamble Co. by 0.7% in the first quarter. Ronna Sue Cohen now owns 30,655 shares of the company’s stock valued at $2,523,000 after buying an additional 201 shares during the period. Boston Advisors LLC raised its stake in shares of Procter & Gamble Co. by 1.4% in the first quarter. Boston Advisors LLC now owns 286,088 shares of the company’s stock valued at $23,548,000 after buying an additional 3,811 shares during the period. Hutner Daniel Ellsworth raised its stake in shares of Procter & Gamble Co. by 0.4% in the first quarter. Hutner Daniel Ellsworth now owns 75,737 shares of the company’s stock valued at $6,234,000 after buying an additional 290 shares during the period. Finally, Kelman Lazarov Inc. acquired a new stake in shares of Procter & Gamble Co. during the first quarter valued at $4,341,000. 58.86% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Procter & Gamble Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble Co. and related companies with MarketBeat.com's FREE daily email newsletter.