Procter & Gamble (PG) Upgraded at Zacks Investment Research
Procter & Gamble (NYSE:PG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $100.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.59% from the company’s current price.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. The company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. P&G shares have also outperformed the industry in the last six months. Earnings estimates for fiscal 2018 and 2019 have also moved north over the last 30 days. However, slowing market growth, weak volumes and organic sales have been hurting sales. Soft consumer-spending environment in developed markets and uncertainties in emerging countries also add to the worries. That said, P&G is speeding up innovations and investments to counter the softening industry growth. Its productivity improvements and cost-saving efforts are also consistently helping to boost profit level.”
Several other brokerages have also recently weighed in on PG. Jefferies Group reiterated a “buy” rating and set a $99.00 price target on shares of Procter & Gamble in a research report on Monday, December 18th. Stifel Nicolaus set a $87.00 price target on Procter & Gamble and gave the company a “hold” rating in a research report on Friday, October 20th. Goldman Sachs Group reiterated a “sell” rating on shares of Procter & Gamble in a research report on Wednesday, October 4th. Deutsche Bank initiated coverage on Procter & Gamble in a research report on Tuesday, December 19th. They set a “buy” rating and a $91.88 price target for the company. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Procter & Gamble in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Procter & Gamble presently has an average rating of “Hold” and a consensus price target of $88.51.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 20th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The firm had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $16.69 billion. During the same period last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. research analysts expect that Procter & Gamble will post 4.19 EPS for the current fiscal year.
In other news, insider Carolyn M. Tastad sold 5,300 shares of Procter & Gamble stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $89.18, for a total value of $472,654.00. Following the sale, the insider now directly owns 57,191 shares of the company’s stock, valued at $5,100,293.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Alexandra Keith sold 1,298 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total value of $115,664.78. Following the completion of the sale, the insider now directly owns 20,135 shares in the company, valued at $1,794,229.85. The disclosure for this sale can be found here. Insiders sold 18,719 shares of company stock valued at $1,661,544 over the last 90 days. Company insiders own 0.35% of the company’s stock.
Several large investors have recently modified their holdings of the company. First United Bank Trust lifted its stake in shares of Procter & Gamble by 3.4% in the 4th quarter. First United Bank Trust now owns 18,798 shares of the company’s stock valued at $1,727,000 after purchasing an additional 610 shares during the last quarter. Trust Department MB Financial Bank N A raised its holdings in shares of Procter & Gamble by 13.2% in the 4th quarter. Trust Department MB Financial Bank N A now owns 139,537 shares of the company’s stock valued at $12,821,000 after buying an additional 16,275 shares during the period. Gemmer Asset Management LLC raised its holdings in shares of Procter & Gamble by 17.2% in the 4th quarter. Gemmer Asset Management LLC now owns 15,015 shares of the company’s stock valued at $1,380,000 after buying an additional 2,206 shares during the period. SPC Financial Inc. raised its holdings in shares of Procter & Gamble by 9.0% in the 4th quarter. SPC Financial Inc. now owns 22,949 shares of the company’s stock valued at $2,109,000 after buying an additional 1,904 shares during the period. Finally, BLB&B Advisors LLC raised its holdings in shares of Procter & Gamble by 0.5% in the 4th quarter. BLB&B Advisors LLC now owns 140,381 shares of the company’s stock valued at $12,898,000 after buying an additional 686 shares during the period. 59.57% of the stock is currently owned by hedge funds and other institutional investors.
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About Procter & Gamble
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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