Procter & Gamble (NYSE:PG) Price Target Lowered to $155.00 at Barclays

Procter & Gamble (NYSE:PG) had its target price lowered by Barclays from $163.00 to $155.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages also recently issued reports on PG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. UBS Group dropped their price target on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price objective on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble Trading Up 0.5 %

Shares of Procter & Gamble stock opened at $161.35 on Friday. The stock has a market cap of $379.98 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45. 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 12-month low of $146.28 and a 12-month high of $180.43. The business’s 50 day moving average is $169.32 and its 200-day moving average is $169.39.

Procter & Gamble (NYSE:PG) last announced 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. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. Equities research analysts predict that Procter & Gamble will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock worth $13,317,460 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC increased its holdings in Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Procter & Gamble in the third quarter valued at approximately $668,000. Fortem Financial Group LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $569,000. Synovus Financial Corp raised its stake in shares of Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after acquiring an additional 6,077 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Procter & Gamble by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after purchasing an additional 201,695 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.