Vetr Inc. Upgrades Procter & Gamble Co. (PG) to “Buy”
Procter & Gamble Co. (NYSE:PG) was upgraded by Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $93.00 price target on the stock. Vetr‘s price objective indicates a potential upside of 5.00% from the stock’s previous close.
PG has been the topic of a number of other research reports. Johnson Rice raised shares of Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a report on Friday, August 26th. Jefferies Group reissued a “buy” rating and issued a $95.00 price objective on shares of Procter & Gamble Co. in a report on Thursday, June 23rd. Zacks Investment Research downgraded shares of Procter & Gamble Co. from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Deutsche Bank AG reissued a “buy” rating and issued a $92.00 price objective (up previously from $85.00) on shares of Procter & Gamble Co. in a report on Sunday, July 24th. Finally, Stifel Nicolaus raised their price objective on shares of Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.21.
Procter & Gamble Co. (NYSE:PG) traded up 0.03% during trading on Wednesday, reaching $88.57. 17,118,011 shares of the company’s 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 cap of $236.37 billion, a P/E ratio of 23.98 and a beta of 0.54. 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 posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The company 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 firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. Analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st will be paid a dividend of $0.6695 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s dividend payout ratio is currently 72.63%.
In related news, CEO David S. Taylor sold 72,525 shares of Procter & Gamble Co. 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 completion of the sale, the chief executive officer now directly owns 136,933 shares in the company, valued at $11,743,374.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Valarie L. Sheppard sold 32,532 shares of Procter & Gamble Co. stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $86.90, for a total value of $2,827,030.80. Following the completion of the sale, the senior vice president now owns 28,397 shares of the company’s stock, valued at $2,467,699.30. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PG. Americafirst Capital Management LLC purchased a new stake in Procter & Gamble Co. during the second quarter valued at $112,000. Signature Estate & Investment Advisors LLC purchased a new stake in Procter & Gamble Co. during the second quarter valued at $122,000. Global X Management Co. LLC increased its stake 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 valued at $128,000 after buying an additional 1,095 shares during the last quarter. Lenox Wealth Advisors Inc. increased its stake 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 valued at $156,000 after buying an additional 10 shares during the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in Procter & Gamble Co. during the second quarter valued at $157,000. Hedge funds and other institutional investors own 58.86% of the company’s stock.
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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