StockNews.com Downgrades Procter & Gamble (NYSE:PG) to Hold

Procter & Gamble (NYSE:PGGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other research firms also recently issued reports on PG. Truist Financial dropped their price objective on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a report on Monday. UBS Group dropped their price objective on shares of Procter & Gamble to $153.00 in a report on Friday, July 22nd. Barclays dropped their price objective on shares of Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Finally, Wells Fargo & Company dropped their price objective on shares of Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

Procter & Gamble Stock Down 0.7 %

PG opened at $141.95 on Monday. The company has a fifty day moving average price of $143.02 and a 200-day moving average price of $151.29. The firm has a market capitalization of $340.58 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 4.31 and a beta of 0.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.45. Procter & Gamble has a one year low of $129.50 and a one year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.52%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. Equities research analysts expect that Procter & Gamble will post 5.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the transaction, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at $580,770.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds and other institutional investors have recently modified their holdings of PG. Norges Bank purchased a new position in shares of Procter & Gamble during the fourth quarter valued at about $3,726,603,000. GQG Partners LLC purchased a new stake in Procter & Gamble in the fourth quarter worth about $1,231,791,000. CFS Investment Advisory Services LLC grew its holdings in Procter & Gamble by 15,150.1% in the first quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock worth $642,000 after purchasing an additional 4,048,566 shares during the period. Boston Partners grew its holdings in Procter & Gamble by 14,217.6% in the first quarter. Boston Partners now owns 3,415,888 shares of the company’s stock worth $522,695,000 after purchasing an additional 3,392,030 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Procter & Gamble by 330.5% in the first quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock worth $515,242,000 after purchasing an additional 2,588,640 shares during the period. Hedge funds and other institutional investors own 63.64% of the company’s stock.

About Procter & Gamble

(Get Rating)

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.

Further Reading

Analyst Recommendations for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.