Zacks Investment Research upgraded shares of Procter & Gamble (NYSE:PG) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. The company remains focused on balanced growth through improved product, packaging, and marketing initiatives and productivity cost-savings plan. However, P&G's shares have lost around 14.3% in the last six months, while its industry dipped 6.9%. Earnings estimates for fiscal 2018 have moved down over the last seven days. Slowing market growth, weak volumes and organic sales have been hurting sales. Soft consumer-spending environment in developed markets and uncertainties in emerging countries also add to the worries.”
A number of other equities analysts also recently commented on the stock. Stifel Nicolaus cut their target price on shares of Procter & Gamble from $85.00 to $83.00 and set a hold rating on the stock in a research note on Wednesday. Bank of America cut their target price on shares of Procter & Gamble from $100.00 to $90.00 and set a buy rating on the stock in a research note on Thursday, April 12th. Morgan Stanley cut their target price on shares of Procter & Gamble from $92.00 to $85.00 and set an equal weight rating on the stock in a research note on Thursday, April 5th. Barclays set a $84.00 target price on shares of Procter & Gamble and gave the company a hold rating in a research note on Thursday, March 15th. Finally, Berenberg Bank assumed coverage on shares of Procter & Gamble in a research note on Wednesday, February 28th. They issued a sell rating and a $78.50 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $84.13.
Shares of NYSE PG opened at $73.80 on Wednesday. Procter & Gamble has a 1 year low of $73.74 and a 1 year high of $94.67. The company has a market cap of $186,050.09, a P/E ratio of 17.87, a PEG ratio of 2.34 and a beta of 0.57. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. Procter & Gamble had a net margin of 15.17% and a return on equity of 20.82%. The company had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the business earned $0.96 EPS. Procter & Gamble’s revenue for the quarter was up 4.3% on a year-over-year basis. sell-side analysts anticipate that Procter & Gamble will post 4.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be paid a dividend of $0.7172 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $2.87 annualized dividend and a yield of 3.89%. Procter & Gamble’s payout ratio is 73.21%.
In other Procter & Gamble news, insider Kathleen B. Fish sold 10,192 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $86.97, for a total transaction of $886,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deborah P. Majoras sold 4,591 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $87.48, for a total transaction of $401,620.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,011 shares of company stock valued at $9,710,976. 0.35% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in PG. Vanguard Group Inc. boosted its holdings in shares of Procter & Gamble by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 180,730,770 shares of the company’s stock valued at $15,750,688,000 after buying an additional 4,066,266 shares during the period. BlackRock Inc. boosted its holdings in shares of Procter & Gamble by 0.5% in the 4th quarter. BlackRock Inc. now owns 159,637,818 shares of the company’s stock valued at $14,667,526,000 after buying an additional 793,096 shares during the period. Trian Fund Management L.P. boosted its holdings in shares of Procter & Gamble by 2.4% in the 2nd quarter. Trian Fund Management L.P. now owns 37,612,012 shares of the company’s stock valued at $3,277,887,000 after buying an additional 893,157 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Procter & Gamble by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 27,189,341 shares of the company’s stock valued at $2,492,983,000 after buying an additional 882,109 shares during the period. Finally, Truepoint Inc. boosted its holdings in shares of Procter & Gamble by 8,711.3% in the 3rd quarter. Truepoint Inc. now owns 26,889,686 shares of the company’s stock valued at $26,890,000 after buying an additional 26,584,514 shares during the period. 60.95% of the stock is owned by institutional investors.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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