Citigroup Cuts Procter & Gamble (PG) Price Target to $89.00

Procter & Gamble (NYSE:PG) had its target price decreased by analysts at Citigroup from $98.00 to $89.00 in a report issued on Friday. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 13.12% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America lowered their price objective on Procter & Gamble from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 12th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price objective on shares of Procter & Gamble in a research report on Thursday, April 19th. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Tuesday, April 3rd. Morgan Stanley lowered their price objective on Procter & Gamble from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, April 20th. Finally, Stifel Nicolaus lowered their price objective on Procter & Gamble from $85.00 to $83.00 and set a “hold” rating on the stock in a research report on Wednesday, April 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Procter & Gamble currently has a consensus rating of “Hold” and a consensus target price of $87.97.

PG opened at $78.68 on Friday. Procter & Gamble has a 1-year low of $70.73 and a 1-year high of $94.67. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $198.35 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Thursday, April 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $16.28 billion for the quarter, compared to analysts’ expectations of $16.22 billion. Procter & Gamble had a return on equity of 20.72% and a net margin of 15.17%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. equities analysts expect that Procter & Gamble will post 4.19 earnings per share for the current year.

In related news, insider Ciserani Giovanni sold 12,034 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $77.41, for a total value of $931,551.94. Following the sale, the insider now directly owns 63,062 shares of the company’s stock, valued at $4,881,629.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary A. Coombe sold 1,529 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $74.25, for a total value of $113,528.25. Following the completion of the sale, the insider now directly owns 5,235 shares in the company, valued at $388,698.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,938 shares of company stock worth $1,604,483. 0.35% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Procter & Gamble by 1.9% in the first quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock valued at $12,890,867,000 after buying an additional 2,961,408 shares in the last quarter. Geode Capital Management LLC boosted its stake in Procter & Gamble by 3.4% in the fourth 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 in the last quarter. Yacktman Asset Management LP raised its position in Procter & Gamble by 1.4% in the first quarter. Yacktman Asset Management LP now owns 15,382,957 shares of the company’s stock valued at $1,219,561,000 after purchasing an additional 219,593 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Procter & Gamble by 8.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 13,939,806 shares of the company’s stock valued at $1,105,148,000 after purchasing an additional 1,089,316 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Procter & Gamble by 17.9% in the first quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock valued at $1,103,790,000 after purchasing an additional 2,115,777 shares during the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Procter & Gamble (NYSE:PG)

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