Procter & Gamble (NYSE:PG) Given New $179.00 Price Target at JPMorgan Chase & Co.

Procter & Gamble (NYSE:PG) had its target price trimmed by JPMorgan Chase & Co. from $181.00 to $179.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on PG. Evercore ISI increased their price target on Procter & Gamble from $177.00 to $183.00 and gave the stock an outperform rating in a research report on Thursday, July 18th. StockNews.com upgraded Procter & Gamble from a hold rating to a buy rating in a research report on Wednesday, July 24th. Citigroup raised their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $171.00 to $176.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Barclays raised their target price on Procter & Gamble from $170.00 to $174.00 and gave the company an overweight rating in a research report on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $173.95.

Procter & Gamble Stock Up 2.6 %

Shares of PG opened at $170.08 on Wednesday. The company has a market capitalization of $401.41 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.60 and a beta of 0.41. The stock’s 50-day moving average price is $166.28 and its 200-day moving average price is $162.13. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $170.92.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.33% and a net margin of 17.71%. Procter & Gamble’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 earnings per share. On average, sell-side analysts predict that Procter & Gamble will post 6.96 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Shailesh Jejurikar sold 31,859 shares of Procter & Gamble stock in a transaction on Monday, May 6th. The stock was sold at an average price of $164.90, for a total value of $5,253,549.10. Following the completion of the sale, the chief operating officer now directly owns 9,739 shares of the company’s stock, valued at $1,605,961.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $15,646,323 over the last quarter. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Procter & Gamble

Institutional investors have recently modified their holdings of the company. Advantage Trust Co acquired a new position in Procter & Gamble during the 4th quarter worth $28,000. Naples Money Management LLC acquired a new position in Procter & Gamble during the 4th quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in Procter & Gamble during the 4th quarter worth $31,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Procter & Gamble during the 4th quarter worth $33,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.