Citigroup Cuts Procter & Gamble (NYSE:PG) Price Target to $170.00

Procter & Gamble (NYSE:PG) had its price objective trimmed by Citigroup from $181.00 to $170.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on PG. Royal Bank Of Canada reduced their price objective on shares of Procter & Gamble from $172.00 to $167.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Piper Sandler upped their price objective on shares of Procter & Gamble from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Jefferies Financial Group boosted their price target on Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a report on Friday, June 26th. UBS Group raised their price objective on Procter & Gamble from $166.00 to $172.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Thirteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.52.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $144.62 on Thursday. The stock has a fifty day moving average price of $147.71 and a two-hundred day moving average price of $148.92. The firm has a market cap of $336.77 billion, a P/E ratio of 21.85, a PEG ratio of 7.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.53 and a current ratio of 0.68. Procter & Gamble has a 1 year low of $137.62 and a 1 year high of $167.25.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.25%. The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. During the same quarter last year, the business posted $1.48 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Research analysts forecast that Procter & Gamble will post 6.99 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be given a $1.0885 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $4.35 annualized dividend and a yield of 3.0%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.71%.

Institutional Investors Weigh In On Procter & Gamble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $4,664,783,000. Cardano Risk Management B.V. boosted its holdings in Procter & Gamble by 1,104.8% in the fourth quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock valued at $1,364,518,000 after acquiring an additional 8,731,126 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in Procter & Gamble by 14,231.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock valued at $508,700,000 after acquiring an additional 3,524,876 shares in the last quarter. Vanguard Group Inc. increased its position in Procter & Gamble by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock valued at $34,030,358,000 after purchasing an additional 2,829,151 shares during the period. Finally, Amundi raised its holdings in Procter & Gamble by 26.3% in the 3rd quarter. Amundi now owns 10,682,455 shares of the company’s stock worth $1,606,748,000 after purchasing an additional 2,222,560 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Key Headlines Impacting Procter & Gamble

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: Citigroup maintained a Buy rating and set a $170 price target, implying substantial potential upside from recent levels, although the target was reduced from $181. Procter & Gamble Given New $170 Price Target at Citigroup
• Positive Sentiment: Brokerage coverage still leans constructive, with PG receiving an average “Moderate Buy” rating; Jefferies also retained its Buy rating despite trimming its target to $177. PG Average Rating of Moderate Buy
• Positive Sentiment: Management is emphasizing innovation, productivity improvements, e-commerce growth and market-share gains to support a consumer recovery. New product and marketing initiatives, including Downy’s premium fragrance campaign, could help reinforce brand strength. PG Q4 Earnings Call Highlights

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.