Morgan Stanley set a $129.00 price objective on Procter & Gamble (NYSE:PG) in a research report sent to investors on Monday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.
PG has been the topic of a number of other research reports. Deutsche Bank upped their target price on shares of Procter & Gamble from $106.00 to $109.00 and gave the company a hold rating in a research report on Monday, June 17th. Wells Fargo & Co reaffirmed a buy rating and issued a $135.00 target price (up previously from $125.00) on shares of Procter & Gamble in a research report on Tuesday, July 30th. Scotiabank reaffirmed a buy rating on shares of Procter & Gamble in a research report on Friday, July 5th. Royal Bank of Canada reaffirmed a neutral rating and issued a $89.00 target price on shares of Procter & Gamble in a research report on Tuesday, July 30th. Finally, Goldman Sachs Group raised shares of Procter & Gamble from a neutral rating to a buy rating and upped their target price for the company from $114.00 to $125.00 in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $108.15.
Procter & Gamble stock opened at $117.39 on Monday. Procter & Gamble has a 52-week low of $78.49 and a 52-week high of $121.76. The firm has a market capitalization of $290.26 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.36 and a beta of 0.45. The company has a fifty day simple moving average of $114.68 and a 200-day simple moving average of $106.59. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.44.
Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a net margin of 5.76% and a return on equity of 23.03%. The business had revenue of $17.09 billion during the quarter, compared to analyst estimates of $16.86 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that Procter & Gamble will post 4.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $0.7459 per share. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $2.98 annualized dividend and a dividend yield of 2.54%. Procter & Gamble’s dividend payout ratio is presently 65.93%.
In other news, Chairman David S. Taylor sold 20,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $106.83, for a total transaction of $2,136,600.00. Following the sale, the chairman now owns 246,837 shares of the company’s stock, valued at $26,369,596.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn M. Tastad sold 25,645 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $106.08, for a total transaction of $2,720,421.60. The disclosure for this sale can be found here. Insiders have sold 137,817 shares of company stock worth $15,669,439 in the last three months. Corporate insiders own 1.84% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PG. Krane Funds Advisors LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth approximately $25,000. Camarda Financial Advisors LLC increased its stake in Procter & Gamble by 59.2% in the second quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. SeaBridge Investment Advisors LLC purchased a new position in Procter & Gamble in the fourth quarter valued at approximately $36,000. Dougherty Wealth Advisers LLC increased its stake in Procter & Gamble by 250.0% in the second quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock valued at $38,000 after purchasing an additional 250 shares during the last quarter. Finally, Smart Portfolios LLC increased its stake in Procter & Gamble by 48.0% in the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock valued at $41,000 after purchasing an additional 146 shares during the last quarter. 62.17% 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 North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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