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

Procter & Gamble (NYSE:PG) had its target price upped by Wells Fargo & Company from $188.00 to $190.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI lifted their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, DA Davidson reissued a “neutral” rating and set a $160.00 price target on shares of Procter & Gamble in a report on Wednesday, November 20th. 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, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $177.40 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 stock has a market cap of $417.78 billion, a P/E ratio of 30.59, a P/E/G ratio of 3.81 and a beta of 0.42. The stock has a 50 day moving average of $170.04 and a two-hundred day moving average of $168.74. Procter & Gamble has a twelve month low of $142.50 and a twelve month high of $178.82.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping 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%. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. On average, research analysts forecast that Procter & Gamble will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.31%.

Insider Transactions at Procter & Gamble

In related news, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This trade represents a 12.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,473 shares of company stock valued at $12,313,697 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at $33,000. POM Investment Strategies LLC acquired a new position in Procter & Gamble in the second quarter valued at $34,000. Finally, Quest Partners LLC purchased a new stake in Procter & Gamble during the second quarter valued at about $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

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.