Procter & Gamble (NYSE:PG) Price Target Raised to $106.00 at Deutsche Bank

Procter & Gamble (NYSE:PG) had its target price boosted by Deutsche Bank from $100.00 to $106.00 in a report released on Wednesday, April 24th, BenzingaRatingsTable reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank’s target price would indicate a potential downside of 1.35% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Co upgraded shares of Procter & Gamble from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $78.00 to $115.00 in a report on Monday, April 8th. Zacks Investment Research downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Morgan Stanley set a $111.00 price target on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th. Berenberg Bank upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating and raised their price target for the stock from $86.00 to $92.00 in a report on Thursday, January 24th. Finally, Barclays restated a “hold” rating and set a $89.00 price target on shares of Procter & Gamble in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Procter & Gamble has an average rating of “Hold” and an average price target of $101.42.

PG stock opened at $107.45 on Wednesday. The stock has a market cap of $268.99 billion, a PE ratio of 25.46, a PEG ratio of 3.44 and a beta of 0.39. Procter & Gamble has a 52-week low of $72.80 and a 52-week high of $108.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.60 and a current ratio of 0.79.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. The firm had revenue of $16.46 billion for the quarter, compared to analyst estimates of $16.37 billion. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. Procter & Gamble’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.00 EPS. Sell-side analysts forecast that Procter & Gamble will post 4.48 earnings per share for the current fiscal year.

In other Procter & Gamble news, Director Trian Fund Management, L.P. sold 71,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $104.62, for a total value of $7,480,330.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Valarie L. Sheppard sold 26,891 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $106.32, for a total transaction of $2,859,051.12. Following the completion of the transaction, the vice president now directly owns 51,323 shares of the company’s stock, valued at approximately $5,456,661.36. The disclosure for this sale can be found here. Insiders have sold a total of 353,089 shares of company stock valued at $36,837,483 in the last ninety days. 1.84% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PG. Gradient Investments LLC increased its holdings in Procter & Gamble by 129.4% in the third quarter. Gradient Investments LLC now owns 11,976 shares of the company’s stock worth $997,000 after purchasing an additional 6,755 shares in the last quarter. Spearhead Capital Advisors LLC increased its holdings in Procter & Gamble by 1.9% in the third quarter. Spearhead Capital Advisors LLC now owns 41,024 shares of the company’s stock worth $3,380,000 after purchasing an additional 754 shares in the last quarter. MAI Capital Management increased its holdings in Procter & Gamble by 7.3% in the third quarter. MAI Capital Management now owns 80,043 shares of the company’s stock worth $6,662,000 after purchasing an additional 5,449 shares in the last quarter. Bridge Creek Capital Management LLC increased its holdings in Procter & Gamble by 1.9% in the third quarter. Bridge Creek Capital Management LLC now owns 41,764 shares of the company’s stock worth $3,476,000 after purchasing an additional 770 shares in the last quarter. Finally, Rathbone Brothers plc increased its holdings in Procter & Gamble by 42.3% in the third quarter. Rathbone Brothers plc now owns 169,180 shares of the company’s stock worth $14,081,000 after purchasing an additional 50,250 shares in the last quarter. 61.49% of the stock is owned by institutional investors.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company 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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