Wells Fargo & Company Issues Pessimistic Forecast for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PG) had its price objective dropped by research analysts at Wells Fargo & Company from $190.00 to $176.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.76% from the company’s previous close.

PG has been the topic of several other research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. DA Davidson restated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research note on Friday, December 27th. Morgan Stanley upped their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.75.

Procter & Gamble Stock Up 0.8 %

Shares of PG traded up $1.22 on Tuesday, reaching $161.82. The stock had a trading volume of 1,229,018 shares, compared to its average volume of 5,081,842. The firm has a market capitalization of $381.09 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. The company has a 50-day simple moving average of $170.03 and a 200-day simple moving average of $169.80. Procter & Gamble has a 12-month low of $146.28 and a 12-month high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the prior year, the firm earned $1.83 EPS. The company’s revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that Procter & Gamble will post 6.94 EPS for the current year.

Insider Transactions at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This represents a 12.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock valued at $13,317,460 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of Procter & Gamble

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. FMR LLC grew its stake in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares in the last quarter. Legal & General Group Plc increased its holdings in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares during the last quarter. Franklin Resources Inc. lifted its stake in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Procter & Gamble by 4.7% during the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.