Procter & Gamble (PG) Rating Reiterated by Jefferies Financial Group
“We attended Cincinnati, where the co. reiterated its outlook and announced it will change its internal organizational structure to better empower local business units and improve accountability – an area of focus in last year’s heated proxy battle with Nelson Peltz. We commend the co.’s decision, but remain on the sidelines awaiting greater signs of sustained fundamental improvement, while valuation at 20x NTM P/E appears full.”,” Jefferies Financial Group’s analyst commented.
PG has been the subject of a number of other research reports. Berenberg Bank set a $78.00 price target on Procter & Gamble and gave the company a sell rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. raised Procter & Gamble from a neutral rating to an overweight rating and set a $100.00 price target for the company in a research report on Friday, October 19th. Societe Generale set a $87.00 price target on Procter & Gamble and gave the company a hold rating in a research report on Tuesday, October 23rd. Bank of America upped their price target on Procter & Gamble from $92.00 to $95.00 and gave the company a neutral rating in a research report on Tuesday. Finally, Atlantic Securities started coverage on Procter & Gamble in a research report on Thursday, September 20th. They issued an overweight rating and a $94.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Procter & Gamble currently has a consensus rating of Hold and a consensus price target of $88.38.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 19th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.45 billion. Procter & Gamble had a return on equity of 21.20% and a net margin of 15.10%. Procter & Gamble’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. As a group, sell-side analysts expect that Procter & Gamble will post 4.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a $0.7172 dividend. This represents a $2.87 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 18th. Procter & Gamble’s dividend payout ratio is currently 68.01%.
In related news, insider Carolyn M. Tastad sold 4,181 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $83.52, for a total transaction of $349,197.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deborah P. Majoras sold 1,980 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $81.35, for a total value of $161,073.00. Following the transaction, the insider now directly owns 50,074 shares of the company’s stock, valued at approximately $4,073,519.90. The disclosure for this sale can be found here. Insiders sold a total of 153,302 shares of company stock valued at $13,438,363 in the last three months. Corporate insiders own 1.84% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PG. RPg Family Wealth Advisory LLC increased its position in Procter & Gamble by 209.4% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 1,349 shares of the company’s stock valued at $105,000 after buying an additional 913 shares in the last quarter. Ayalon Holdings Ltd. purchased a new stake in Procter & Gamble during the 3rd quarter valued at $108,000. First Mercantile Trust Co. purchased a new stake in Procter & Gamble during the 3rd quarter valued at $111,000. CSat Investment Advisory L.P. purchased a new stake in Procter & Gamble during the 2nd quarter valued at $113,000. Finally, Fort L.P. purchased a new stake in Procter & Gamble during the 2nd quarter valued at $124,000. 58.54% of the stock is owned by institutional investors.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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