The Procter & Gamble (NYSE:PG) Downgraded by Citigroup to Neutral


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Citigroup cut shares of The Procter & Gamble (NYSE:PG) from a buy rating to a neutral rating in a report published on Wednesday morning, The Fly reports.

Several other research analysts have also commented on PG. Stifel Nicolaus lowered shares of The Procter & Gamble from a buy rating to a hold rating and set a $141.00 price objective for the company. in a research note on Thursday, January 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of The Procter & Gamble from a buy rating to a neutral rating and reduced their price objective for the stock from $165.00 to $150.00 in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of The Procter & Gamble from $153.00 to $148.00 and set an overweight rating for the company in a research note on Friday, April 16th. Sanford C. Bernstein initiated coverage on shares of The Procter & Gamble in a research note on Tuesday, January 19th. They set a market perform rating and a $149.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Procter & Gamble from $159.00 to $158.00 and set a buy rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The Procter & Gamble has an average rating of Buy and an average target price of $148.93.

NYSE:PG opened at $135.61 on Wednesday. The Procter & Gamble has a one year low of $111.25 and a one year high of $146.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.87. The firm has a market cap of $333.94 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.25 and a beta of 0.38. The firm has a 50-day simple moving average of $132.11 and a 200-day simple moving average of $135.31.

The Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Monday, April 19th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The Procter & Gamble had a net margin of 18.92% and a return on equity of 30.69%. The business had revenue of $18.10 billion during the quarter, compared to analyst estimates of $18 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that The Procter & Gamble will post 5.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Friday, April 23rd will be issued a $0.8698 dividend. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, April 22nd. The Procter & Gamble’s dividend payout ratio is 61.72%.

In other news, Director Nelson Peltz sold 408,880 shares of the company’s stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $128.71, for a total value of $52,626,944.80. Following the sale, the director now directly owns 5,357 shares of the company’s stock, valued at approximately $689,499.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Valarie L. Sheppard sold 1,811 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $125.77, for a total transaction of $227,769.47. The disclosure for this sale can be found here. Insiders sold a total of 534,675 shares of company stock worth $68,687,622 over the last ninety days. Insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in shares of The Procter & Gamble by 6.5% in the 4th quarter. Morgan Stanley now owns 32,345,298 shares of the company’s stock valued at $4,500,525,000 after purchasing an additional 1,964,987 shares during the period. Norges Bank acquired a new position in shares of The Procter & Gamble in the 4th quarter valued at $3,679,005,000. Nuveen Asset Management LLC lifted its stake in shares of The Procter & Gamble by 8.2% in the 4th quarter. Nuveen Asset Management LLC now owns 16,571,944 shares of the company’s stock valued at $2,305,820,000 after purchasing an additional 1,260,453 shares during the period. Janus Henderson Group PLC lifted its stake in shares of The Procter & Gamble by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 12,990,893 shares of the company’s stock valued at $1,807,482,000 after purchasing an additional 85,934 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of The Procter & Gamble by 5.0% in the 4th quarter. Alliancebernstein L.P. now owns 12,812,531 shares of the company’s stock valued at $1,782,736,000 after purchasing an additional 611,102 shares during the period. Hedge funds and other institutional investors own 63.05% of the company’s stock.

About The Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

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Analyst Recommendations for The Procter & Gamble (NYSE:PG)

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