Procter & Gamble (NYSE:PG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Procter & Gamble (NYSE:PG) had its target price raised by analysts at Wells Fargo & Company from $188.00 to $190.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.78% from the stock’s previous close.

Several other analysts also recently commented on the stock. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. DA Davidson restated a “neutral” rating and issued a $160.00 price objective on shares of Procter & Gamble in a research report on Wednesday. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $178.00.

Procter & Gamble Price Performance

NYSE PG opened at $176.28 on Friday. The business’s fifty day moving average is $170.04 and its 200 day moving average is $168.64. Procter & Gamble has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $415.15 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 3.74 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS. Sell-side analysts predict that Procter & Gamble will post 6.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The trade was a 12.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,693 shares of company stock valued at $27,311,345 over the last three months. 0.18% of the stock is owned by company insiders.

Institutional Trading of Procter & Gamble

A number of large investors have recently modified their holdings of PG. Geode Capital Management LLC raised its holdings in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. FMR LLC increased its holdings in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after buying an additional 689,282 shares during the period. Legal & General Group Plc raised its stake in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after buying an additional 830,476 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Procter & Gamble by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock valued at $2,844,442,000 after acquiring an additional 105,734 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.