Procter & Gamble (NYSE:PG) Receives New Coverage from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Procter & Gamble (NYSE:PG) in a research report report published on Tuesday, MarketBeat reports. The firm issued a neutral rating and a $174.00 target price on the stock.

A number of other research analysts have also weighed in on the company. BNP Paribas initiated coverage on Procter & Gamble in a research note on Monday, June 24th. They set an outperform rating and a $187.00 price target on the stock. Barclays reduced their price target on Procter & Gamble from $174.00 to $163.00 and set an overweight rating on the stock in a research note on Thursday, August 1st. StockNews.com lowered Procter & Gamble from a buy rating to a hold rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an overweight rating in a research report on Thursday, September 19th. Finally, TD Cowen started coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a buy rating and a $189.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $175.89.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $173.47 on Tuesday. The business’s fifty day moving average price is $170.79 and its two-hundred day moving average price is $166.14. The stock has a market cap of $409.41 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.77 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. Procter & Gamble has a one year low of $141.45 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. Procter & Gamble’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, analysts forecast that Procter & Gamble will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the completion of the transaction, the chief executive officer now directly owns 263,158 shares in the company, valued at approximately $45,002,649.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 375,553 shares of company stock worth $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

A number of large investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble during the second quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble during the fourth quarter worth approximately $31,000. Ruedi Wealth Management Inc. raised its holdings in 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 in the last quarter. Finally, POM Investment Strategies LLC bought a new stake in Procter & Gamble during the second quarter worth approximately $34,000. Institutional investors own 65.77% of the company’s stock.

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.