Barclays Forecasts Strong Price Appreciation for Procter & Gamble (NYSE:PG) Stock

Procter & Gamble (NYSE:PG) had its price objective lifted by Barclays from $159.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 1.71% from the stock’s previous close.

Several other research firms have also recently weighed in on PG. Stifel Nicolaus increased their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Piper Sandler reduced their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.82.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $167.86 on Thursday. The stock’s 50-day moving average is $168.31 and its 200 day moving average is $169.47. The stock has a market cap of $393.62 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 3.76 and a beta of 0.41. Procter & Gamble has a 1-year low of $153.52 and a 1-year high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its quarterly 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 business had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. On average, sell-side analysts anticipate that Procter & Gamble will post 6.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This represents a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of large investors have recently made changes to their positions in the stock. Berkshire Asset Management LLC PA grew its stake in Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after acquiring an additional 2,179 shares in the last quarter. Strategic Advisors LLC grew its stake in Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Procter & Gamble during the 3rd quarter worth $668,000. Fortem Financial Group LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $569,000. Finally, Richard C. Young & CO. LTD. lifted its holdings in shares of Procter & Gamble by 2.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock worth $20,764,000 after buying an additional 2,568 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

About Procter & Gamble

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.