William Blair Initiates Coverage on Procter & Gamble (NYSE:PG)

Investment analysts at William Blair assumed coverage on shares of Procter & Gamble (NYSE:PG) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “market perform” rating on the stock. William Blair also issued estimates for Procter & Gamble’s Q1 2024 earnings at $1.66 EPS, Q2 2024 earnings at $1.67 EPS, Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.52 EPS, FY2024 earnings at $6.37 EPS and FY2025 earnings at $6.85 EPS. The analysts noted that the move was a valuation call.

Several other analysts have also commented on the stock. Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $155.00 to $161.00 in a research report on Monday, July 31st. Barclays boosted their price objective on shares of Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $164.00 to $172.00 in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft upped their price target on Procter & Gamble from $170.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Royal Bank of Canada lifted their price objective on Procter & Gamble from $165.00 to $167.00 and gave the company a “sector perform” rating in a research note on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.82.

Procter & Gamble Stock Down 0.4 %

NYSE PG opened at $152.93 on Friday. Procter & Gamble has a 52 week low of $122.18 and a 52 week high of $158.38. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $153.15 and its 200-day simple moving average is $149.78. The firm has a market cap of $360.50 billion, a PE ratio of 25.92, a P/E/G ratio of 3.82 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $20.60 billion for the quarter, compared to analyst estimates of $20.01 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 17.87%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. As a group, equities analysts anticipate that Procter & Gamble will post 6.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Shailesh Jejurikar sold 11,522 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $154.13, for a total transaction of $1,775,885.86. Following the completion of the transaction, the chief operating officer now directly owns 10,135 shares of the company’s stock, valued at approximately $1,562,107.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Shailesh Jejurikar sold 11,522 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $154.13, for a total value of $1,775,885.86. Following the completion of the transaction, the chief operating officer now owns 10,135 shares in the company, valued at approximately $1,562,107.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO R. Alexandra Keith sold 781 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $152.82, for a total transaction of $119,352.42. Following the completion of the transaction, the chief executive officer now owns 6,310 shares of the company’s stock, valued at approximately $964,294.20. The disclosure for this sale can be found here. Insiders sold 106,607 shares of company stock worth $16,523,793 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of large investors have recently made changes to their positions in PG. Your Advocates Ltd. LLP boosted its stake in Procter & Gamble by 632.0% during the 2nd quarter. Your Advocates Ltd. LLP now owns 183 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. Silicon Valley Capital Partners acquired a new stake in Procter & Gamble during the 4th quarter worth $28,000. GW&K Investment Management LLC acquired a new stake in Procter & Gamble during the 1st quarter worth approximately $28,000. IAG Wealth Partners LLC lifted its position in Procter & Gamble by 58.8% during the 1st quarter. IAG Wealth Partners LLC now owns 243 shares of the company’s stock worth $36,000 after acquiring an additional 90 shares during the period. Finally, Kepos Capital LP acquired a new stake in Procter & Gamble during the 4th quarter worth approximately $38,000. 63.43% of the stock is owned by institutional investors and hedge funds.

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.