Wells Fargo & Company Cuts Procter & Gamble (NYSE:PG) Price Target to $176.00

Procter & Gamble (NYSE:PG) had its price target decreased by Wells Fargo & Company from $190.00 to $176.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages also recently commented on PG. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Evercore ISI lifted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a report on Friday, December 27th. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Trading Up 0.5 %

Procter & Gamble stock opened at $162.07 on Tuesday. Procter & Gamble has a 52 week low of $146.28 and a 52 week high of $180.43. The stock has a 50-day moving average price of $169.77 and a 200 day moving average price of $169.64. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $381.68 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45.

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

Insider Buying and Selling

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,439 shares of company stock worth $13,317,460. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in Procter & Gamble during the third quarter worth about $33,000. Quest Partners LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Procter & Gamble in the second quarter valued at approximately $44,000. 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.