Procter & Gamble (PG) Earns “Hold” Rating from Wells Fargo & Company
Procter & Gamble (NYSE:PG)‘s stock had its “hold” rating reaffirmed by equities researchers at Wells Fargo & Company in a research note issued on Sunday. They currently have a $88.00 price target on the stock. Wells Fargo & Company’s target price points to a potential downside of 4.23% from the stock’s previous close.
The analysts wrote, “We also hope it pressures PG to break down its insular culture, which we would view positively. We expect shares to initially trade higher on the news, and expect a “Peltz benefit” will continue to be priced into shares, which should limit downside risk. That said, we also recognize that Peltz is only one voice on the Board and believe for shares to move higher from here, it will take evidence of improved fundamental execution (which we continue to believe could take some time). Bottom Line – PG’s execution remains choppy and category deceleration is becoming more concerning especially in the U.S. We would like to see more top-line improvement and sustained market share gains before becoming more constructive on the stock, especially with shares trading at 21.3x CY18E EPS. We maintain our Market Perform rating.””
A number of other research firms have also issued reports on PG. Jefferies Group reiterated a “buy” rating and issued a $104.00 target price (up from $103.00) on shares of Procter & Gamble in a research note on Wednesday, September 20th. Vetr upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating and set a $93.02 target price on the stock in a research note on Friday, September 15th. Macquarie assumed coverage on shares of Procter & Gamble in a research note on Thursday, September 14th. They issued an “outperform” rating and a $102.00 target price on the stock. Bank of America raised their target price on shares of Procter & Gamble from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, September 19th. Finally, Zacks Investment Research lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.30.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. Procter & Gamble’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. equities research analysts anticipate that Procter & Gamble will post 4.17 EPS for the current year.
In other news, insider R. Alexandra Keith sold 1,298 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $89.11, for a total transaction of $115,664.78. Following the completion of the transaction, the insider now directly owns 20,135 shares of the company’s stock, valued at approximately $1,794,229.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marylynn Fergusonmchugh sold 2,856 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $92.98, for a total transaction of $265,550.88. The disclosure for this sale can be found here. Insiders sold a total of 21,575 shares of company stock worth $1,927,095 over the last 90 days. Company insiders own 0.35% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PG. Vanguard Group Inc. lifted its holdings in Procter & Gamble by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 180,730,770 shares of the company’s stock valued at $15,750,688,000 after purchasing an additional 4,066,266 shares during the last quarter. BlackRock Inc. lifted its holdings in Procter & Gamble by 1.4% during the 2nd quarter. BlackRock Inc. now owns 156,361,011 shares of the company’s stock valued at $13,626,862,000 after purchasing an additional 2,164,426 shares during the last quarter. Trian Fund Management L.P. lifted its holdings in Procter & Gamble by 2.4% during the 2nd quarter. Trian Fund Management L.P. now owns 37,612,012 shares of the company’s stock valued at $3,277,887,000 after purchasing an additional 893,157 shares during the last quarter. Truepoint Inc. lifted its holdings in Procter & Gamble by 8,711.3% during the 3rd quarter. Truepoint Inc. now owns 26,889,686 shares of the company’s stock valued at $26,890,000 after purchasing an additional 26,584,514 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Procter & Gamble by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 13,957,931 shares of the company’s stock valued at $1,269,884,000 after purchasing an additional 277,715 shares during the last quarter. 59.54% of the stock is owned by institutional investors.
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Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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