Wells Fargo & Company Has Lowered Expectations for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PG) had its target price lowered by Wells Fargo & Company from $190.00 to $176.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on PG. Evercore ISI boosted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. DA Davidson restated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Friday, December 27th. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, Morgan Stanley boosted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.75.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $161.36 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52 week low of $146.28 and a 52 week high of $180.43. The stock’s 50-day simple moving average is $169.92 and its 200-day simple moving average is $169.75. The company has a market capitalization of $380.01 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.70 and a beta of 0.45.

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

Insider Activity at Procter & Gamble

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

Institutional Trading of Procter & Gamble

Large investors have recently made changes to their positions in the company. Fiera Capital Corp increased its holdings in shares of Procter & Gamble by 1,135.1% in the second quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock valued at $3,412,000 after purchasing an additional 19,013 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Procter & Gamble by 391.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 289,175 shares of the company’s stock worth $477,000 after acquiring an additional 230,374 shares during the period. Quest Partners LLC acquired a new position in shares of Procter & Gamble during the 2nd quarter valued at about $36,000. Cahill Financial Advisors Inc. grew its holdings in shares of Procter & Gamble by 3.0% in the second quarter. Cahill Financial Advisors Inc. now owns 2,272 shares of the company’s stock valued at $375,000 after purchasing an additional 66 shares during the period. Finally, Lane & Associates LLC purchased a new position in Procter & Gamble during the second quarter worth about $2,250,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

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.