Procter & Gamble (NYSE:PG) Price Target Cut to $154.00 by Analysts at Barclays

Procter & Gamble (NYSE:PGGet Rating) had its price target reduced by Barclays from $157.00 to $154.00 in a research report report published on Tuesday morning, The Fly reports. Barclays currently has a maintains rating on the stock.

Several other brokerages also recently commented on PG. Raymond James reissued a maintains rating on shares of Procter & Gamble in a research note on Monday, July 25th. Evercore ISI set a $170.00 target price on Procter & Gamble in a research note on Monday, June 20th. StockNews.com downgraded Procter & Gamble from a buy rating to a hold rating in a research note on Monday. UBS Group lowered their target price on Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Finally, Truist Financial lowered their target price on Procter & Gamble from $175.00 to $160.00 and set a buy rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $162.93.

Procter & Gamble Stock Down 0.7 %

PG stock opened at $141.95 on Tuesday. The company has a market cap of $340.58 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 4.31 and a beta of 0.36. The business has a 50-day simple moving average of $143.02 and a 200 day simple moving average of $151.29. Procter & Gamble has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PGGet Rating) last posted 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 company had revenue of $19.52 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Sell-side analysts anticipate that Procter & Gamble will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 22nd will be issued a $0.913 dividend. This represents a $3.65 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 21st. Procter & Gamble’s payout ratio is presently 62.82%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors and hedge funds have recently modified their holdings of the business. Northcape Wealth Management LLC raised its position in shares of Procter & Gamble by 95.2% during the first quarter. Northcape Wealth Management LLC now owns 24,189 shares of the company’s stock worth $3,696,000 after purchasing an additional 11,800 shares during the period. First Affirmative Financial Network raised its position in shares of Procter & Gamble by 6.0% during the first quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock worth $296,000 after purchasing an additional 109 shares during the period. NorthCrest Asset Manangement LLC raised its position in Procter & Gamble by 624.7% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 131,952 shares of the company’s stock valued at $20,163,000 after buying an additional 113,745 shares during the last quarter. Calamos Wealth Management LLC raised its position in Procter & Gamble by 3.8% in the 1st quarter. Calamos Wealth Management LLC now owns 20,240 shares of the company’s stock valued at $3,093,000 after buying an additional 733 shares during the last quarter. Finally, Nvest Financial LLC purchased a new stake in Procter & Gamble in the 1st quarter valued at $432,000. 63.64% of the stock is currently owned by institutional investors.

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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