JPMorgan Chase & Co. Cuts Procter & Gamble (NYSE:PG) Price Target to $172.00

Procter & Gamble (NYSE:PG) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $181.00 to $172.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.20% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial increased their target price on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 3rd. DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.50.

Procter & Gamble Trading Up 1.9 %

Shares of Procter & Gamble stock traded up $3.11 during trading hours on Friday, hitting $166.67. The company’s stock had a trading volume of 2,646,647 shares, compared to its average volume of 8,050,265. The stock has a market cap of $390.83 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. Procter & Gamble has a twelve month low of $153.52 and a twelve month high of $180.43. The firm has a fifty day moving average of $168.37 and a 200-day moving average of $168.66.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. Research analysts forecast that Procter & Gamble will post 6.91 EPS for the current year.

Insider Transactions at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,450 shares of company stock worth $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PG. Lakeridge Wealth Management LLC increased its stake in Procter & Gamble by 0.6% in the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock valued at $1,812,000 after buying an additional 60 shares during the period. Unique Wealth LLC boosted its holdings in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock valued at $365,000 after acquiring an additional 61 shares in the last quarter. Colton Groome Financial Advisors LLC increased its stake in shares of Procter & Gamble by 3.2% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company’s stock worth $334,000 after acquiring an additional 62 shares during the period. Kolinsky Wealth Management LLC raised its holdings in Procter & Gamble by 1.1% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock worth $962,000 after purchasing an additional 64 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its position in Procter & Gamble by 1.4% in the fourth quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock valued at $789,000 after purchasing an additional 64 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.