Argus upgraded shares of Procter & Gamble Co. (NYSE:PG) from a hold rating to a buy rating in a research report report published on Wednesday morning. Argus currently has $103.00 target price on the stock, up from their prior target price of $88.54.
Other research analysts have also recently issued research reports about the company. Deutsche Bank AG reiterated a buy rating and issued a $92.00 target price (up previously from $85.00) on shares of Procter & Gamble Co. in a research report on Sunday, July 24th. Stifel Nicolaus boosted their price target on Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a buy rating in a report on Friday, July 22nd. Jefferies Group restated a buy rating and set a $95.00 price target on shares of Procter & Gamble Co. in a report on Thursday, June 23rd. Vetr upgraded Procter & Gamble Co. from a sell rating to a buy rating and set a $89.50 price target on the stock in a report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. set a $99.00 price target on Procter & Gamble Co. and gave the stock a buy rating in a report on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Procter & Gamble Co. currently has a consensus rating of Buy and an average target price of $90.21.
Shares of Procter & Gamble Co. (NYSE:PG) opened at 88.43 on Wednesday. The firm’s 50-day moving average is $88.27 and its 200 day moving average is $84.73. Procter & Gamble Co. has a one year low of $73.50 and a one year high of $90.33. The firm has a market capitalization of $236.00 billion, a P/E ratio of 23.94 and a beta of 0.54.
Procter & Gamble Co. (NYSE:PG) last released its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $15.83 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts predict that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st will be given a dividend of $0.6695 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Wednesday, October 19th. Procter & Gamble Co.’s payout ratio is 72.63%.
In related news, CEO David S. Taylor sold 72,525 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $85.76, for a total transaction of $6,219,744.00. Following the completion of the sale, the chief executive officer now owns 136,933 shares in the company, valued at $11,743,374.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jon R. Moeller sold 272,591 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $85.94, for a total value of $23,426,470.54. Following the sale, the chief financial officer now owns 164,269 shares of the company’s stock, valued at approximately $14,117,277.86. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Procter & Gamble Co. by 1.8% in the second quarter. Vanguard Group Inc. now owns 167,926,302 shares of the company’s stock worth $14,218,321,000 after buying an additional 3,029,476 shares during the period. State Street Corp increased its position in shares of Procter & Gamble Co. by 1.1% in the first quarter. State Street Corp now owns 116,920,706 shares of the company’s stock worth $9,623,755,000 after buying an additional 1,310,690 shares during the period. Capital World Investors increased its position in shares of Procter & Gamble Co. by 0.7% in the second quarter. Capital World Investors now owns 53,097,172 shares of the company’s stock worth $4,495,738,000 after buying an additional 376,640 shares during the period. BlackRock Fund Advisors increased its position in shares of Procter & Gamble Co. by 5.5% in the second quarter. BlackRock Fund Advisors now owns 37,893,606 shares of the company’s stock worth $3,208,452,000 after buying an additional 1,964,364 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Procter & Gamble Co. by 1.1% in the second quarter. BlackRock Group LTD now owns 23,158,248 shares of the company’s stock worth $1,960,808,000 after buying an additional 249,455 shares during the period. Institutional investors and hedge funds own 58.99% of the company’s stock.
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.
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