Procter & Gamble Co. (PG) Cut to “Hold” at Vetr Inc.
Vetr downgraded shares of Procter & Gamble Co. (NYSE:PG) from a buy rating to a hold rating in a research report sent to investors on Monday morning. The firm currently has $92.75 price target on the stock.
Several other research analysts also recently commented on PG. Jefferies Group initiated coverage on Procter & Gamble Co. in a research report on Wednesday, June 15th. They issued a buy rating and a $95.00 price target on the stock. Zacks Investment Research downgraded Procter & Gamble Co. from a hold rating to a sell rating in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. reissued a neutral rating and set a $88.00 price objective (up previously from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. Stifel Nicolaus lifted their price objective on Procter & Gamble Co. from $85.00 to $92.00 and gave the stock a buy rating in a report on Friday, July 22nd. Finally, Deutsche Bank AG reissued a buy rating and set a $92.00 price objective (up previously from $85.00) on shares of Procter & Gamble Co. in a report on Sunday, July 24th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $90.21.
Procter & Gamble Co. (NYSE:PG) opened at 88.57 on Monday. The stock’s 50 day moving average price is $88.23 and its 200 day moving average price is $84.67. Procter & Gamble Co. has a 1-year low of $73.50 and a 1-year high of $90.33. The stock has a market capitalization of $236.37 billion, a PE ratio of 23.98 and a beta of 0.54.
Procter & Gamble Co. (NYSE:PG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.83 billion. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. Equities research analysts forecast that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be issued a $0.6695 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $2.68 dividend on an annualized basis and a yield of 3.02%. Procter & Gamble Co.’s dividend payout ratio is presently 72.63%.
In other Procter & Gamble Co. news, CFO Jon R. Moeller sold 272,591 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $85.94, for a total value of $23,426,470.54. Following the completion of the transaction, the chief financial officer now directly owns 164,269 shares of the company’s stock, valued at $14,117,277.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Juan Fernando Posada sold 3,501 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $89.50, for a total value of $313,339.50. Following the completion of the transaction, the insider now directly owns 19,953 shares of the company’s stock, valued at $1,785,793.50. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PG. Americafirst Capital Management LLC acquired a new position in Procter & Gamble Co. during the second quarter worth about $112,000. Signature Estate & Investment Advisors LLC acquired a new position in Procter & Gamble Co. during the second quarter worth about $122,000. Global X Management Co. LLC boosted its position in Procter & Gamble Co. by 259.5% in the second quarter. Global X Management Co. LLC now owns 1,517 shares of the company’s stock worth $128,000 after buying an additional 1,095 shares during the last quarter. Lenox Wealth Advisors Inc. boosted its position in Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock worth $156,000 after buying an additional 10 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in Procter & Gamble Co. during the second quarter worth about $157,000. 58.86% of the stock is owned by hedge funds and other institutional investors.
About Procter & Gamble Co.
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
To view Vetr’s full report, visit Vetr’s official website.
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