Procter & Gamble (NYSE:PG) Downgraded to Neutral Rating by Redburn Atlantic

Redburn Atlantic cut shares of Procter & Gamble (NYSE:PG) from a buy rating to a neutral rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has $161.00 price objective on the stock.

Several other brokerages also recently commented on PG. Raymond James cut their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Royal Bank of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Piper Sandler restated an “underperform” rating on shares of Procter & Gamble in a report on Friday, April 25th. Finally, Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.80.

Procter & Gamble Stock Up 0.4 %

PG opened at $160.59 on Thursday. The firm’s 50 day simple moving average is $167.36 and its two-hundred day simple moving average is $167.96. The company has a market capitalization of $376.51 billion, a PE ratio of 25.57, a PEG ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 1-year low of $156.58 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the company posted $1.52 earnings per share. Procter & Gamble’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts forecast that Procter & Gamble will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.63%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 21st. Procter & Gamble’s payout ratio is presently 66.98%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock valued at $9,330,060 over the last 90 days. Insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of institutional investors have recently made changes to their positions in the company. NewSquare Capital LLC grew its holdings in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Navigoe LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Hoey Investments Inc. increased its holdings in shares of Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble during the fourth quarter worth approximately $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.