Procter & Gamble Co. (PG) Rating Increased to Hold at Zacks Investment Research
Procter & Gamble Co. (NYSE:PG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
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. However, it has been struggling over the past few quarters to boost sales. Significant negative Fx impact, weak volumes, divestures and slowing market growth have been hurting sales. That said, the company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. The portfolio-reshaping plan, though hurting near-term sales/profits, will ultimately increase profitability. Importantly, its productivity improvements and aggressive cost-saving efforts have consistently improved margins with the trend expected to continue in future quarters. Meanwhile, estimates have been stable lately ahead of the P&G’s first quarter earnings release.”
A number of other research firms have also recently weighed in on PG. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $88.00 price target (up previously from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. Vetr upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and set a $92.75 price target for the company in a report on Tuesday, October 4th. Argus upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and upped their price target for the stock from $88.54 to $103.00 in a report on Wednesday, October 12th. Deutsche Bank AG restated a “buy” rating and issued a $95.00 price target on shares of Procter & Gamble Co. in a report on Saturday, August 13th. Finally, B. Riley restated a “neutral” rating and issued a $74.00 price target on shares of Procter & Gamble Co. in a report on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.21.
Procter & Gamble Co. (NYSE:PG) opened at 87.83 on Friday. The firm has a market capitalization of $234.40 billion, a PE ratio of 23.78 and a beta of 0.54. Procter & Gamble Co. has a one year low of $73.50 and a one year high of $90.33. The stock has a 50 day moving average of $88.27 and a 200-day moving average of $84.80.
Procter & Gamble Co. (NYSE:PG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm earned $16.10 billion during the quarter, compared to the consensus estimate of $15.83 billion. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. On average, equities analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be paid a dividend of $0.6695 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $2.68 annualized dividend and a yield of 3.05%. Procter & Gamble Co.’s dividend payout ratio is currently 72.63%.
In related news, CEO David S. Taylor sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $87.16, for a total transaction of $4,358,000.00. Following the completion of the transaction, the chief executive officer now owns 137,068 shares of the company’s stock, valued at $11,946,846.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Taylor sold 72,525 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $85.76, for a total value of $6,219,744.00. Following the transaction, the chief executive officer now directly owns 136,933 shares of the company’s stock, valued at approximately $11,743,374.08. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American National Bank boosted its position in shares of Procter & Gamble Co. by 225.8% in the third quarter. American National Bank now owns 1,137 shares of the company’s stock valued at $102,000 after buying an additional 788 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Procter & Gamble Co. during the second quarter valued at $112,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Procter & Gamble Co. during the second quarter valued at $122,000. Global X Management Co. LLC boosted its position in shares of 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 valued at $128,000 after buying an additional 1,095 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. boosted its position in shares of Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock valued at $156,000 after buying an additional 10 shares in the last quarter. 58.99% of the stock is owned by institutional investors and hedge funds.
Procter & Gamble Co. Company Profile
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.
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