Procter & Gamble (NYSE:PG) PT Lowered to $163.00 at Barclays

Procter & Gamble (NYSE:PG) had its price target lowered by Barclays from $174.00 to $163.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

PG has been the topic of a number of other reports. Royal Bank of Canada raised their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a sector perform rating in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $181.00 to $179.00 and set an overweight rating on the stock in a research report on Wednesday. Evercore ISI increased their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an outperform rating in a research report on Thursday, July 18th. BNP Paribas began coverage on Procter & Gamble in a report on Monday, June 24th. They set an outperform rating and a $187.00 price target on the stock. Finally, Jefferies Financial Group lowered shares of Procter & Gamble from a buy rating to a hold rating and dropped their price objective for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $173.95.

Procter & Gamble Price Performance

PG stock traded down $0.51 during mid-day trading on Thursday, hitting $165.18. The stock had a trading volume of 4,002,174 shares, compared to its average volume of 6,602,418. The firm has a fifty day simple moving average of $166.18 and a 200 day simple moving average of $161.91. The firm has a market capitalization of $389.85 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.02 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $170.92.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.33% and a net margin of 17.71%. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. During the same quarter last year, the business posted $1.37 EPS. The company’s revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Procter & Gamble will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $1.0065 dividend. The ex-dividend date is Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.44%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 21,388 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the sale, the chief executive officer now directly owns 36,854 shares of the company’s stock, valued at $6,080,172.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Gary A. Coombe sold 21,388 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the sale, the chief executive officer now directly owns 36,854 shares in the company, valued at $6,080,172.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,320 shares of company stock valued at $15,646,323. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

A number of institutional investors and hedge funds have recently bought and sold shares of PG. Advantage Trust Co bought a new position in shares of Procter & Gamble in the fourth quarter worth approximately $28,000. Naples Money Management LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at about $29,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $34,000. Finally, Transcendent Capital Group LLC bought a new position in Procter & Gamble during the 4th quarter valued at approximately $31,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

About Procter & Gamble

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.