Procter & Gamble (NYSE:PG) Price Target Raised to $150.00 at Credit Suisse Group

Procter & Gamble (NYSE:PGGet Rating) had its target price hoisted by equities researchers at Credit Suisse Group from $140.00 to $150.00 in a report released on Thursday, The Fly reports. Credit Suisse Group’s target price indicates a potential downside of 8.34% from the stock’s previous close.

A number of other research firms have also recently commented on PG. Barclays lowered their price target on shares of Procter & Gamble from $178.00 to $167.00 and set an “overweight” rating on the stock in a report on Friday, April 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Procter & Gamble from $179.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, March 16th. The Goldman Sachs Group lowered their target price on shares of Procter & Gamble from $179.00 to $173.00 in a report on Tuesday, March 29th. Raymond James started coverage on shares of Procter & Gamble in a report on Thursday, April 7th. They set an “outperform” rating and a $175.00 target price on the stock. Finally, Zacks Investment Research cut shares of Procter & Gamble from a “hold” rating to a “sell” rating and set a $163.00 target price on the stock. in a report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.93.

Shares of NYSE PG opened at $163.65 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $396.02 billion, a PE ratio of 28.91, a PEG ratio of 4.26 and a beta of 0.46. The stock’s 50 day moving average price is $154.49 and its 200-day moving average price is $153.15. Procter & Gamble has a twelve month low of $130.29 and a twelve month high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $18.69 billion. Procter & Gamble had a net margin of 18.52% and a return on equity of 31.99%. Procter & Gamble’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, research analysts expect that Procter & Gamble will post 5.87 EPS for the current fiscal year.

In related news, insider Deborah P. Majoras sold 1,927 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $153.51, for a total value of $295,813.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 281,271 shares of the company’s stock in a transaction on Friday, January 28th. The stock was sold at an average price of $160.58, for a total transaction of $45,166,497.18. The disclosure for this sale can be found here. Insiders sold 415,622 shares of company stock valued at $66,593,240 over the last quarter. 0.51% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Procter & Gamble by 1.2% during the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after buying an additional 1,785,863 shares during the period. State Street Corp boosted its position in Procter & Gamble by 1.7% during the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after buying an additional 1,716,517 shares during the period. Geode Capital Management LLC boosted its position in Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 43,444,122 shares of the company’s stock valued at $7,090,497,000 after buying an additional 972,826 shares during the period. Morgan Stanley boosted its position in Procter & Gamble by 1.0% during the third quarter. Morgan Stanley now owns 34,831,920 shares of the company’s stock valued at $4,869,502,000 after buying an additional 331,201 shares during the period. Finally, Norges Bank purchased a new stake in Procter & Gamble during the fourth quarter valued at about $3,726,603,000. Institutional investors and hedge funds own 63.05% of the company’s stock.

About Procter & Gamble (Get Rating)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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