Procter & Gamble (NYSE:PG) Stock Price Up 0.2% Following Analyst Upgrade

The Procter & Gamble Company (NYSE:PG)’s stock price was up 0.2% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $174.00 to $191.00. Morgan Stanley currently has an overweight rating on the stock. Procter & Gamble traded as high as $170.73 and last traded at $169.92. Approximately 2,428,094 shares traded hands during trading, a decline of 64% from the average daily volume of 6,666,199 shares. The stock had previously closed at $169.54.

A number of other equities research analysts have also issued reports on PG. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target on the stock. Stifel Nicolaus boosted their target price on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. DA Davidson increased their price objective on Procter & Gamble from $159.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,194 shares of company stock valued at $65,140,718. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently bought and sold shares of PG. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the second quarter valued at about $29,000. Ruedi Wealth Management Inc. increased its holdings in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $34,000. Finally, Quest Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $36,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Price Performance

The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $171.82 and its two-hundred day moving average price is $167.33. The company has a market cap of $401.13 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.74 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. During the same quarter last year, the business posted $1.83 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.