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

DA Davidson reiterated their buy rating on shares of Procter & Gamble (NYSE:PG) in a report issued on Friday,Benzinga reports. The brokerage currently has a $209.00 target price on the stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Price Performance

PG stock opened at $169.53 on Friday. The company has a market capitalization of $399.25 billion, a PE ratio of 29.23, a P/E/G ratio of 3.70 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $170.47 and its two-hundred day moving average is $169.88. Procter & Gamble has a 52-week low of $145.04 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. Analysts predict that Procter & Gamble will post 6.94 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is 69.31%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble 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 transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock valued at $14,629,038 over the last ninety days. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several hedge funds have recently bought and sold shares of PG. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the second quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble during the third quarter worth $33,000. Quest Partners LLC acquired a new stake in Procter & Gamble during the second quarter valued at $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Procter & Gamble in the second quarter valued at about $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Company Profile

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.