Procter & Gamble (NYSE:PG) Earns Neutral Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of Procter & Gamble (NYSE:PG) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $160.00 price objective on the stock.

A number of other brokerages also recently issued reports on PG. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $170.92 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52-week low of $142.50 and a 52-week high of $177.94. The firm’s fifty day moving average is $170.01 and its 200 day moving average is $168.51. The company has a market cap of $402.52 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.69 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Procter & Gamble will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. Procter & Gamble’s payout ratio is 69.48%.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Shailesh Jejurikar sold 14,034 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $169.78, for a total transaction of $2,382,692.52. Following the transaction, the chief operating officer now directly owns 9,856 shares of the company’s stock, valued at approximately $1,673,351.68. This trade represents a 58.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,727 shares of company stock valued at $29,694,037. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Procter & Gamble

A number of institutional investors and hedge funds have recently bought and sold shares of PG. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble in the 2nd quarter worth $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the 2nd quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at about $33,000. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the second quarter worth approximately $34,000. Finally, Quest Partners LLC bought a new position in Procter & Gamble during the second quarter valued at approximately $36,000. 65.77% of the stock is currently owned by institutional investors.

About Procter & Gamble

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.