Procter & Gamble (NYSE:PG) Rating Increased to Buy at StockNews.com

Procter & Gamble (NYSE:PG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research firms have also recently weighed in on PG. JPMorgan Chase & Co. upped their price target on shares of Procter & Gamble from $170.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. TD Cowen began coverage on Procter & Gamble in a research note on Tuesday. They issued a “buy” rating and a $189.00 target price on the stock. Jefferies Financial Group increased their price objective on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Argus raised their price target on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.29.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $166.95 on Wednesday. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $170.92. The stock has a fifty day simple moving average of $166.38 and a two-hundred day simple moving average of $161.36. The firm has a market cap of $394.03 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling

In related news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $162.90, for a total transaction of $5,049,900.00. Following the sale, the chief operating officer now directly owns 9,739 shares of the company’s stock, valued at $1,586,483.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $162.90, for a total transaction of $5,049,900.00. Following the completion of the sale, the chief operating officer now directly owns 9,739 shares in the company, valued at approximately $1,586,483.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 21,388 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the transaction, the chief executive officer now owns 36,854 shares in the company, valued at $6,080,172.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,320 shares of company stock worth $20,696,223. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter worth about $3,956,117,000. Cerity Partners LLC raised its stake in Procter & Gamble by 106.2% during the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after acquiring an additional 3,159,796 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares in the last quarter. TD Asset Management Inc increased its position in Procter & Gamble by 114.9% during the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after buying an additional 1,907,716 shares during the period. Finally, Swedbank AB purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $233,788,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

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.