Procter & Gamble (NYSE:PG) Price Target Cut to $176.00 by Analysts at Wells Fargo & Company

Procter & Gamble (NYSE:PG) had its price target cut by Wells Fargo & Company from $190.00 to $176.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the stock. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research report on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, Morgan Stanley boosted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.75.

Procter & Gamble Stock Up 0.5 %

Shares of NYSE PG opened at $161.36 on Tuesday. The company has a market cap of $380.01 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.70 and a beta of 0.45. The firm’s fifty day moving average is $169.92 and its 200 day moving average is $169.75. 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 $146.28 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 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 business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the prior year, the company posted $1.83 EPS. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Procter & Gamble will post 6.94 earnings per share for the current year.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors have recently made changes to their positions in the business. Acorn Creek Capital LLC raised its position in Procter & Gamble by 2.8% in the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after acquiring an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. increased its stake in shares of Procter & Gamble by 1.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock worth $963,000 after purchasing an additional 59 shares in the last quarter. Traveka Wealth LLC raised its holdings in Procter & Gamble by 1.7% in the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its position in Procter & Gamble by 0.7% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock valued at $1,507,000 after purchasing an additional 61 shares in the last quarter. Finally, Valued Wealth Advisors LLC grew its holdings in Procter & Gamble by 11.2% during the third quarter. Valued Wealth Advisors LLC now owns 605 shares of the company’s stock valued at $105,000 after purchasing an additional 61 shares during the period. Institutional investors own 65.77% of the company’s stock.

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.