Procter & Gamble (NYSE:PG) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Procter & Gamble (NYSE:PG) in a report released on Friday,Benzinga reports. They currently have a $209.00 price objective on the stock.

PG has been the topic of a number of other research reports. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Morgan Stanley increased their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Evercore ISI raised their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Price Performance

Shares of PG opened at $169.53 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 $399.25 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44. The stock’s 50-day moving average price is $170.47 and its two-hundred day moving average price is $169.88. Procter & Gamble has a 1 year low of $145.04 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. On average, equities analysts predict that Procter & Gamble will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 69.31%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,080 shares of company stock worth $14,629,038 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble during the 3rd quarter worth $33,000. Quest Partners LLC acquired a new position in Procter & Gamble in the 2nd quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in Procter & Gamble in the second quarter valued at about $44,000. 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.