JPMorgan Chase & Co. Cuts Procter & Gamble (NYSE:PG) Price Target to $181.00

Procter & Gamble (NYSE:PG) had its target price lowered by JPMorgan Chase & Co. from $186.00 to $181.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on PG. Piper Sandler assumed coverage on Procter & Gamble in a research note 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. Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.65.

Procter & Gamble Trading Up 0.5 %

Shares of NYSE:PG opened at $161.35 on Thursday. The business’s 50 day moving average price is $169.19 and its 200-day moving average price is $169.38. Procter & Gamble has a 1 year low of $146.28 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm has a market capitalization of $379.98 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Procter & Gamble will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock worth $13,317,460 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $28,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter worth approximately $33,000. Quest Partners LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $36,000. Costello Asset Management INC grew its position in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after acquiring an additional 300 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $58,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and 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.