Procter & Gamble (NYSE:PG) Price Target Raised to $183.00

Procter & Gamble (NYSE:PG) had its price target increased by Evercore ISI from $177.00 to $183.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

PG has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on Procter & Gamble from $171.00 to $176.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Argus increased their price objective on Procter & Gamble from $180.00 to $185.00 and gave the company a buy rating in a report on Thursday, April 25th. Jefferies Financial Group increased their price objective on Procter & Gamble from $175.00 to $182.00 and gave the company a buy rating in a report on Monday, April 22nd. Barclays increased their price objective on Procter & Gamble from $168.00 to $170.00 and gave the company an overweight rating in a report on Tuesday, April 23rd. Finally, Citigroup raised their target price on Procter & Gamble from $177.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $172.75.

Procter & Gamble Stock Down 0.3 %

Shares of NYSE PG opened at $167.96 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $396.41 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 3.15 and a beta of 0.41. The stock’s fifty day simple moving average is $166.30 and its two-hundred day simple moving average is $161.00. Procter & Gamble has a 12-month low of $141.45 and a 12-month high of $170.92.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. As a group, analysts expect that Procter & Gamble will post 6.55 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 9,149 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $167.72, for a total value of $1,534,470.28. Following the sale, the insider now owns 12,929 shares of the company’s stock, valued at $2,168,451.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares in the company, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold a total of 153,689 shares of company stock worth $25,277,533 in the last ninety days. Insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PG. BKM Wealth Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter worth $2,361,000. Rockland Trust Co. grew its stake in shares of Procter & Gamble by 73.4% during the fourth quarter. Rockland Trust Co. now owns 195,721 shares of the company’s stock worth $28,681,000 after purchasing an additional 82,827 shares in the last quarter. West Coast Financial LLC grew its stake in shares of Procter & Gamble by 61.8% during the fourth quarter. West Coast Financial LLC now owns 72,481 shares of the company’s stock worth $10,621,000 after purchasing an additional 27,692 shares in the last quarter. Chapin Davis Inc. grew its stake in shares of Procter & Gamble by 12.1% during the fourth quarter. Chapin Davis Inc. now owns 14,639 shares of the company’s stock worth $2,145,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Vest Financial LLC grew its stake in shares of Procter & Gamble by 21.5% during the fourth quarter. Vest Financial LLC now owns 180,205 shares of the company’s stock worth $26,407,000 after purchasing an additional 31,902 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.