Zacks Investment Research upgraded shares of Procter & Gamble (NYSE:PG) from a hold rating to a buy rating in a research note published on Tuesday. The firm currently has $100.00 price target on the stock.
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 issued reports on PG. Jefferies Group reiterated a buy rating and issued a $104.00 price objective (up from $103.00) on shares of Procter & Gamble in a research note on Wednesday, September 20th. Bank of America increased their price objective on Procter & Gamble from $98.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, September 19th. Goldman Sachs Group reiterated a sell rating on shares of Procter & Gamble in a research note on Wednesday, October 4th. Wells Fargo & Co reiterated a hold rating and issued a $88.00 price objective on shares of Procter & Gamble in a research note on Sunday, December 17th. Finally, Deutsche Bank assumed coverage on Procter & Gamble in a research note on Tuesday, December 19th. They issued a buy rating and a $91.88 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Procter & Gamble presently has an average rating of Hold and a consensus price target of $88.51.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 20th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.69 billion. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. equities research analysts predict that Procter & Gamble will post 4.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 19th will be paid a $0.6896 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, January 18th. Procter & Gamble’s dividend payout ratio is presently 73.80%.
In other Procter & Gamble news, insider Carolyn M. Tastad sold 5,300 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $89.18, for a total transaction of $472,654.00. Following the transaction, the insider now owns 57,191 shares of the company’s stock, valued at $5,100,293.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Alexandra Keith sold 1,298 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total value of $115,664.78. Following the transaction, the insider now directly owns 20,135 shares in the company, valued at approximately $1,794,229.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,719 shares of company stock worth $1,661,544. 0.35% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Independence Advisors LLC purchased a new position in shares of Procter & Gamble during the second quarter worth about $12,716,000. Stillwater Capital Advisors LLC grew its holdings in shares of Procter & Gamble by 4.2% during the second quarter. Stillwater Capital Advisors LLC now owns 9,192 shares of the company’s stock worth $801,000 after buying an additional 372 shares during the last quarter. Beacon Financial Group grew its holdings in shares of Procter & Gamble by 1.7% during the second quarter. Beacon Financial Group now owns 119,168 shares of the company’s stock worth $10,366,000 after buying an additional 2,014 shares during the last quarter. First Command Bank grew its holdings in shares of Procter & Gamble by 104.2% during the second quarter. First Command Bank now owns 33,614 shares of the company’s stock worth $2,930,000 after buying an additional 17,153 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in shares of Procter & Gamble by 0.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 193,987 shares of the company’s stock worth $16,906,000 after buying an additional 1,747 shares during the last quarter. 59.57% of the stock is currently 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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