Truist Financial Trims Procter & Gamble (NYSE:PG) Target Price to $160.00

Procter & Gamble (NYSE:PGGet Rating) had its price target trimmed by Truist Financial from $175.00 to $160.00 in a research report sent to investors on Monday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Evercore ISI set a $170.00 price objective on Procter & Gamble in a research note on Monday, June 20th. Wells Fargo & Company dropped their price objective on Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Raymond James reiterated a maintains rating on shares of Procter & Gamble in a research note on Monday, July 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $171.00 to $157.00 and set a buy rating on the stock in a research report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $162.93.

Procter & Gamble Stock Performance

PG stock opened at $144.88 on Monday. The firm has a market cap of $347.61 billion, a PE ratio of 24.94, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $143.01 and a 200-day moving average of $151.25. Procter & Gamble has a 12-month low of $129.50 and a 12-month high of $165.35.

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

Procter & Gamble Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be issued a $0.913 dividend. The ex-dividend date is Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.52%. Procter & Gamble’s payout ratio is currently 62.82%.

Insider Transactions at Procter & Gamble

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 1.1% during the first quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock valued at $33,236,946,000 after buying an additional 2,394,234 shares during the last quarter. BlackRock Inc. grew its stake in shares of Procter & Gamble by 1.2% during the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after buying an additional 1,785,863 shares during the last quarter. State Street Corp grew its stake in shares of Procter & Gamble by 1.7% during the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after buying an additional 1,716,517 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 43,444,122 shares of the company’s stock valued at $7,090,497,000 after buying an additional 972,826 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Procter & Gamble by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock valued at $3,627,510,000 after buying an additional 983,197 shares during the last quarter. Institutional investors own 63.64% of the company’s stock.

Procter & Gamble Company Profile

(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.

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Analyst Recommendations for Procter & Gamble (NYSE:PG)

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