TD Cowen Initiates Coverage on Procter & Gamble (NYSE:PG)

Research analysts at TD Cowen started coverage on shares of Procter & Gamble (NYSE:PG) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $189.00 price target on the stock. TD Cowen’s price target points to a potential upside of 12.47% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Argus lifted their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus lifted their price target on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday. Jefferies Financial Group lifted their price target on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their price target on Procter & Gamble from $170.00 to $181.00 and gave the company an “overweight” rating in a research note on Monday. Finally, BNP Paribas initiated coverage on Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.29.

Procter & Gamble Stock Performance

PG stock opened at $168.05 on Tuesday. The stock has a 50-day moving average price of $166.39 and a 200-day moving average price of $161.32. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $170.92. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The firm has a market cap of $396.61 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 3.16 and a beta of 0.41.

Insider Buying and Selling

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of Procter & Gamble stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the transaction, the insider now owns 12,929 shares in the company, valued at approximately $2,168,451.88. The disclosure for this sale can be found here. Insiders sold a total of 125,320 shares of company stock valued at $20,696,223 over the last three months. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PG. Norges Bank bought a new stake in Procter & Gamble in the 4th quarter valued at $3,956,117,000. Cerity Partners LLC increased its holdings in Procter & Gamble by 106.2% in the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after acquiring an additional 3,159,796 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Procter & Gamble by 13,850.3% in the 4th quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after acquiring an additional 2,727,685 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Procter & Gamble by 235.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after acquiring an additional 2,268,805 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after acquiring an additional 1,907,716 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Company Profile

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.