Procter & Gamble (NYSE:PG) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Procter & Gamble (NYSE:PGGet Rating) in a report released on Monday, Marketbeat Ratings reports. The firm issued an outperform rating and a $156.00 price objective on the stock.

A number of other equities analysts have also issued reports on PG. Truist Financial dropped their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a buy rating on the stock in a research report on Monday, August 1st. Morgan Stanley dropped their target price on shares of Procter & Gamble from $177.00 to $160.00 and set an overweight rating on the stock in a research report on Tuesday, October 4th. Credit Suisse Group dropped their target price on shares of Procter & Gamble from $140.00 to $130.00 and set a neutral rating on the stock in a research report on Tuesday, November 15th. The Goldman Sachs Group lowered shares of Procter & Gamble from a buy rating to a neutral rating and set a $143.00 target price on the stock. in a research report on Sunday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $152.00 to $140.00 and set a neutral rating on the stock in a research report on Thursday, October 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $151.00.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $146.45 on Monday. The firm has a fifty day simple moving average of $133.59 and a 200-day simple moving average of $140.37. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 0.49. Procter & Gamble has a 1-year low of $122.18 and a 1-year high of $165.35. The stock has a market capitalization of $349.36 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 4.20 and a beta of 0.41.

Procter & Gamble (NYSE:PGGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.02. Procter & Gamble had a net margin of 18.11% and a return on equity of 32.66%. The business had revenue of $20.61 billion during the quarter, compared to analysts’ expectations of $20.37 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Procter & Gamble’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that Procter & Gamble will post 5.83 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st were paid a $0.9133 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, October 20th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is currently 63.26%.

Insider Activity

In related news, CEO R. Alexandra Keith sold 33,968 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $137.44, for a total transaction of $4,668,561.92. Following the transaction, the chief executive officer now owns 38,990 shares in the company, valued at approximately $5,358,785.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, CEO Sundar G. Raman sold 14,922 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $139.60, for a total transaction of $2,083,111.20. Following the transaction, the chief executive officer now directly owns 12,310 shares in the company, valued at approximately $1,718,476. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 33,968 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $137.44, for a total transaction of $4,668,561.92. Following the transaction, the chief executive officer now owns 38,990 shares in the company, valued at $5,358,785.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,812 shares of company stock worth $8,190,363. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PG. Win Advisors Inc. increased its stake in shares of Procter & Gamble by 91.5% in the 2nd quarter. Win Advisors Inc. now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 86 shares during the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $30,000. Lansing Street Advisors bought a new stake in shares of Procter & Gamble in the 1st quarter valued at about $37,000. Dravo Bay LLC bought a new stake in shares of Procter & Gamble in the 1st quarter valued at about $40,000. Finally, Retirement Group LLC increased its stake in shares of Procter & Gamble by 48.2% in the 1st quarter. Retirement Group LLC now owns 283 shares of the company’s stock valued at $43,000 after acquiring an additional 92 shares during the last quarter. 63.45% of the stock is currently owned by institutional investors and hedge funds.

About Procter & Gamble

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Analyst Recommendations for Procter & Gamble (NYSE:PG)

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