Procter & Gamble (NYSE:PG) Price Target Lowered to $173.00 at Wells Fargo & Company

Procter & Gamble (NYSE:PG) had its price target cut by Wells Fargo & Company from $175.00 to $173.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on PG. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $170.00 price target (down previously from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Redburn Atlantic lowered shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target for the company. in a research note on Thursday, May 1st. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an “overweight” rating in a research note on Friday, April 25th. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Citigroup cut their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus price target of $175.71.

Procter & Gamble Stock Down 2.5%

Procter & Gamble stock opened at $152.73 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $160.43 and its 200-day simple moving average is $164.11. The firm has a market capitalization of $358.08 billion, a P/E ratio of 23.46, a P/E/G ratio of 4.47 and a beta of 0.40. Procter & Gamble has a twelve month low of $151.90 and a twelve month high of $180.43.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Procter & Gamble will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 67.14%.

Insider Activity

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider owned 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procter & Gamble

A number of hedge funds have recently made changes to their positions in PG. Unique Wealth LLC boosted its stake in shares of Procter & Gamble by 2.9% in the 1st quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock valued at $365,000 after purchasing an additional 61 shares during the last quarter. Stableford Capital II LLC boosted its stake in shares of Procter & Gamble by 1.1% in the 1st quarter. Stableford Capital II LLC now owns 5,817 shares of the company’s stock valued at $993,000 after purchasing an additional 61 shares during the last quarter. Bernard Wealth Management Corp. boosted its stake in shares of Procter & Gamble by 20.2% in the 1st quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock valued at $64,000 after purchasing an additional 63 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Procter & Gamble by 2.3% in the 1st quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,795 shares of the company’s stock valued at $476,000 after purchasing an additional 63 shares during the last quarter. Finally, Kolinsky Wealth Management LLC boosted its stake in shares of Procter & Gamble by 1.1% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock valued at $962,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

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.