Zacks Investment Research upgraded shares of Procter & Gamble (NYSE:PG) from a hold rating to a buy rating in a research note issued to investors on Monday. Zacks Investment Research currently has $102.00 price objective on the stock.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. The company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. P&G shares have also outperformed the industry in the last six months. Earnings estimates for fiscal 2018 and 2019 have also moved north over the last 30 days. However, slowing market growth, weak volumes and organic sales have been hurting sales. Soft consumer-spending environment in developed markets and uncertainties in emerging countries also add to the worries. That said, P&G is speeding up innovations and investments to counter the softening industry growth. Its productivity improvements and cost-saving efforts are also consistently helping to boost profit level.”
Several other research analysts also recently weighed in on PG. Vetr raised shares of Procter & Gamble from a hold rating to a buy rating and set a $93.02 target price on the stock in a research report on Monday, October 23rd. Jefferies Group reissued a buy rating and issued a $99.00 target price on shares of Procter & Gamble in a research report on Monday, December 18th. Bank of America lifted their target price on shares of Procter & Gamble from $98.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, September 19th. Stifel Nicolaus set a $87.00 target price on shares of Procter & Gamble and gave the stock a hold rating in a research report on Friday, October 20th. Finally, Wells Fargo & Co restated a hold rating and set a $88.00 price target on shares of Procter & Gamble in a report on Sunday, December 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $89.31.
Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. research analysts predict that Procter & Gamble will post 4.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be issued a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, January 18th. Procter & Gamble’s dividend payout ratio is currently 73.80%.
In other Procter & Gamble news, insider R. Alexandra Keith sold 1,298 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $89.11, for a total value of $115,664.78. Following the completion of the sale, the insider now directly owns 20,135 shares in the company, valued at $1,794,229.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marylynn Fergusonmchugh sold 2,856 shares of Procter & Gamble stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $92.98, for a total transaction of $265,550.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,575 shares of company stock valued at $1,927,095. 0.35% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Asset Planning Services Ltd. lifted its stake in shares of Procter & Gamble by 0.4% in the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after buying an additional 5 shares during the last quarter. Northwest Wealth Management LLC increased its position in Procter & Gamble by 0.3% during the second quarter. Northwest Wealth Management LLC now owns 2,556 shares of the company’s stock worth $223,000 after acquiring an additional 8 shares during the period. Winfield Associates Inc. increased its position in Procter & Gamble by 0.7% during the second quarter. Winfield Associates Inc. now owns 2,260 shares of the company’s stock worth $197,000 after acquiring an additional 15 shares during the period. Cascade Investment Advisors Inc. increased its position in Procter & Gamble by 0.5% during the second quarter. Cascade Investment Advisors Inc. now owns 3,395 shares of the company’s stock worth $296,000 after acquiring an additional 17 shares during the period. Finally, Iron Financial LLC increased its position in Procter & Gamble by 0.8% during the second quarter. Iron Financial LLC now owns 3,342 shares of the company’s stock worth $291,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 59.56% of the company’s stock.
Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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