Zacks Investment Research Lowers Procter & Gamble Company (The) (PG) to Hold
Zacks Investment Research lowered shares of Procter & Gamble Company (The) (NYSE:PG) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “P&G is known for its strong brand recognition, diversified portfolio, impressive product development capabilities and marketing prowess as well as strong cash flow productivity. The company is investing in its brands and products as well as redesigning the supply chain to improve productivity and organic growth. However, slowing market growth, weak volumes and major foreign exchange headwind have been hurting sales. P&G shares have also underperformed the industry year to date. Soft consumer-spending environment in developed markets and uncertainties in emerging countries also add to the worries. That said, P&G is speeding up innovations and investments to counter the softening industry growth. Its productivity improvements and cost-saving efforts are also consistently helping to boost profit level.”
Other analysts also recently issued research reports about the company. Capital One Financial Corporation downgraded Procter & Gamble Company (The) from an overweight rating to an equal weight rating and cut their price target for the stock from $5.00 to $2.00 in a report on Thursday, June 22nd. Royal Bank Of Canada reissued a hold rating and issued a $80.00 price target on shares of Procter & Gamble Company (The) in a report on Friday, June 30th. Sanford C. Bernstein reissued an outperform rating and issued a $100.00 price target (up previously from $98.00) on shares of Procter & Gamble Company (The) in a report on Sunday, July 30th. Jefferies Group LLC reissued a buy rating and issued a $92.44 price target (down previously from $103.00) on shares of Procter & Gamble Company (The) in a report on Thursday, August 17th. Finally, BidaskClub raised Procter & Gamble Company (The) from a sell rating to a hold rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $89.11.
Procter & Gamble Company (NYSE:PG) traded down 3.65% on Wednesday, hitting $88.25. The stock had a trading volume of 19,997,800 shares. Procter & Gamble Company has a 12-month low of $81.18 and a 12-month high of $94.67. The company’s 50 day moving average price is $92.46 and its 200-day moving average price is $89.85. The company has a market cap of $225.04 billion, a price-to-earnings ratio of 15.78 and a beta of 0.67.
Procter & Gamble Company (The) (NYSE:PG) last announced its quarterly earnings results on Friday, October 20th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.69 billion. Procter & Gamble Company (The) had a return on equity of 19.97% and a net margin of 23.56%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts anticipate that Procter & Gamble Company will post $4.17 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th will be given a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, October 19th. Procter & Gamble Company (The)’s dividend payout ratio (DPR) is presently 48.51%.
In other news, insider Suranjan Magesvaran sold 10,512 shares of Procter & Gamble Company (The) stock in a transaction on Monday, July 31st. The stock was sold at an average price of $91.00, for a total transaction of $956,592.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Taylor sold 6,382 shares of Procter & Gamble Company (The) stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $92.04, for a total value of $587,399.28. Following the transaction, the chief executive officer now owns 134,884 shares in the company, valued at $12,414,723.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,648 shares of company stock worth $4,481,621. 0.35% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of PG. Asset Planning Services Ltd. increased its position in shares of Procter & Gamble Company (The) by 0.4% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after purchasing an additional 5 shares during the period. Harding Loevner LP acquired a new position in shares of Procter & Gamble Company (The) in the 2nd quarter worth $119,000. Blume Capital Management Inc. grew its holdings in shares of Procter & Gamble Company (The) by 25.4% in the 2nd quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after acquiring an additional 300 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of Procter & Gamble Company (The) by 11.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,603 shares of the company’s stock worth $144,000 after acquiring an additional 170 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new position in shares of Procter & Gamble Company (The) in the 1st quarter worth $184,000. Institutional investors own 59.28% of the company’s stock.
Procter & Gamble Company (The) Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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