Bank of America Issues Pessimistic Forecast for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PGGet Free Report) had its price target cut by analysts at Bank of America from $171.00 to $167.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 15.04% from the company’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group reduced their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their price target for the company from $157.00 to $165.00 in a report on Friday, January 23rd. BNP Paribas Exane cut their price target on shares of Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, January 16th. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price target for the company from $156.00 to $179.00 in a report on Tuesday, December 16th. Finally, TD Cowen cut their price target on shares of Procter & Gamble from $156.00 to $142.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $163.89.

Read Our Latest Stock Report on Procter & Gamble

Procter & Gamble Trading Down 1.0%

NYSE PG opened at $145.17 on Friday. The company’s fifty day simple moving average is $153.04 and its 200-day simple moving average is $149.23. Procter & Gamble has a 52 week low of $137.62 and a 52 week high of $171.65. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49. The stock has a market cap of $337.37 billion, a P/E ratio of 21.51, a PEG ratio of 5.11 and a beta of 0.41.

Procter & Gamble (NYSE:PGGet Free Report) last posted its earnings results on Friday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The business had revenue of $22.21 billion for the quarter, compared to analysts’ expectations of $22.36 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict that Procter & Gamble will post 6.91 EPS for the current fiscal year.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 15,169 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $162.28, for a total transaction of $2,461,625.32. Following the completion of the sale, the insider owned 44,735 shares in the company, valued at $7,259,595.80. The trade was a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary A. Coombe sold 36,093 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the sale, the chief executive officer owned 34,994 shares of the company’s stock, valued at approximately $5,680,576.02. The trade was a 50.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 348,618 shares of company stock valued at $55,462,643 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Procter & Gamble

Institutional investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new stake in Procter & Gamble during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Procter & Gamble by 1,000.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Park Square Financial Group LLC increased its stake in Procter & Gamble by 65.1% during the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Evolution Wealth Management Inc. increased its stake in Procter & Gamble by 1,315.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Finally, Litman Gregory Wealth Management LLC bought a new stake in Procter & Gamble during the fourth quarter valued at $26,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble News Roundup

Here are the key news stories impacting Procter & Gamble this week:

Procter & Gamble Company Profile

(Get Free Report)

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

Further Reading

Analyst Recommendations for Procter & Gamble (NYSE:PG)

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