Procter & Gamble (NYSE:PG) Price Target Raised to $190.00 at Wells Fargo & Company

Procter & Gamble (NYSE:PG) had its target price boosted by equities research analysts at Wells Fargo & Company from $188.00 to $190.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 7.78% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine 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’s stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.00.

Procter & Gamble Stock Performance

Shares of PG opened at $176.28 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market cap of $415.15 billion, a PE ratio of 30.39, a P/E/G ratio of 3.74 and a beta of 0.42. Procter & Gamble has a 12 month low of $142.50 and a 12 month high of $177.94. The stock has a fifty day moving average price of $170.04 and a 200-day moving average price of $168.64.

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 company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This trade represents a 25.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jon R. Moeller sold 87,979 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the sale, the chief executive officer now owns 300,777 shares of the company’s stock, valued at approximately $51,252,400.80. The trade was a 22.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,693 shares of company stock worth $27,311,345. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

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

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.