Vetr Inc. Upgrades Procter & Gamble Co. (PG) to “Buy”
Procter & Gamble Co. (NYSE:PG) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $92.75 target price on the stock. Vetr‘s price objective points to a potential upside of 4.61% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Johnson Rice upgraded Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a research report on Friday, August 26th. B. Riley upgraded Procter & Gamble Co. to a “buy” rating and set a $105.00 price objective for the company in a research report on Saturday, August 20th. Deutsche Bank AG restated a “buy” rating and set a $95.00 price objective on shares of Procter & Gamble Co. in a research report on Saturday, August 13th. Bank of America Corp. set a $95.00 price objective on Procter & Gamble Co. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, Jefferies Group restated a “buy” rating and set a $98.00 price objective on shares of Procter & Gamble Co. in a research report on Thursday, August 4th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Procter & Gamble Co. has a consensus rating of “Buy” and an average price target of $89.49.
Shares of Procter & Gamble Co. (NYSE:PG) opened at 88.66 on Tuesday. Procter & Gamble Co. has a 12-month low of $72.59 and a 12-month high of $90.22. The firm has a market cap of $236.61 billion, a P/E ratio of 24.00 and a beta of 0.54. The stock has a 50 day moving average price of $87.85 and a 200 day moving average price of $84.39.
Procter & Gamble Co. (NYSE:PG) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. Procter & Gamble Co. had a return on equity of 17.48% and a net margin of 16.09%. The company earned $16.10 billion during the quarter, compared to the consensus estimate of $15.83 billion. During the same period last year, the company earned $1.00 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Procter & Gamble Co. will post $0.02 earnings per share for the current year.
In other Procter & Gamble Co. news, CEO David S. Taylor sold 72,525 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $85.76, for a total value of $6,219,744.00. Following the sale, the chief executive officer now directly owns 136,933 shares in the company, valued at $11,743,374.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Valarie L. Sheppard sold 32,532 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $86.90, for a total value of $2,827,030.80. Following the completion of the sale, the senior vice president now owns 28,397 shares in the company, valued at $2,467,699.30. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Americafirst Capital Management LLC purchased a new stake in shares of Procter & Gamble Co. during the second quarter valued at about $112,000. Signature Estate & Investment Advisors LLC bought a new stake in Procter & Gamble Co. during the second quarter worth about $122,000. Global X Management Co. LLC raised its stake in Procter & Gamble Co. by 259.5% in the second quarter. Global X Management Co. LLC now owns 1,517 shares of the company’s stock worth $128,000 after buying an additional 1,095 shares during the last quarter. Lenox Wealth Advisors Inc. raised its stake in Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock worth $156,000 after buying an additional 10 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in Procter & Gamble Co. during the second quarter worth about $157,000. Hedge funds and other institutional investors own 58.73% of the company’s stock.
About Procter & Gamble Co.
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.
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