Wells Fargo & Company Issues Positive Forecast for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PG) had its target price boosted by Wells Fargo & Company from $176.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 10.03% from the company’s current price.

PG has been the topic of several other reports. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group decreased their target price on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Eight 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.05.

Procter & Gamble Stock Down 0.7 %

PG stock opened at $163.59 on Thursday. The stock’s fifty day simple moving average is $168.97 and its two-hundred day simple moving average is $169.38. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 1-year low of $152.06 and a 1-year high of $180.43. The stock has a market cap of $385.26 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.64 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21,657,595.49 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. Analysts expect that Procter & Gamble will post 6.92 EPS for the current year.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the sale, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The sale 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 stock in a transaction on Wednesday, November 27th. The shares were 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 owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. FMR LLC lifted its position in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares in the last quarter. Legal & General Group Plc lifted its position in Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares in the last quarter. Franklin Resources Inc. lifted its position in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Company Profile

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.