Procter & Gamble (NYSE:PG) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Procter & Gamble (NYSE:PG – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Several other equities research analysts have also commented on the stock. Raymond James reissued a maintains rating on shares of Procter & Gamble in a research note on Monday, July 25th. UBS Group dropped their price objective on shares of Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Credit Suisse Group boosted their price objective on shares of Procter & Gamble from $140.00 to $150.00 and gave the stock a neutral rating in a research note on Thursday, April 21st. Truist Financial decreased their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a buy rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $162.53.

Procter & Gamble Trading Up 2.9 %

Shares of PG opened at $142.90 on Monday. The firm’s 50-day moving average price is $143.13 and its 200-day moving average price is $151.36. The firm has a market capitalization of $342.86 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 4.31 and a beta of 0.36. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.49. Procter & Gamble has a 1-year low of $129.50 and a 1-year high of $165.35.

Procter & Gamble (NYSE:PG – Get Rating) last announced its earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.52%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. Sell-side analysts anticipate that Procter & Gamble will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be issued a dividend of $0.913 per share. The ex-dividend date is Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a yield of 2.56%. Procter & Gamble’s dividend payout ratio is currently 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $145.12, for a total value of $232,046.88. Following the completion of the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at $580,770.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds have recently modified their holdings of the company. American Financial Advisors LLC bought a new position in shares of Procter & Gamble during the second quarter worth $212,000. FSB Premier Wealth Management Inc. boosted its position in shares of Procter & Gamble by 6.6% during the second quarter. FSB Premier Wealth Management Inc. now owns 2,505 shares of the company’s stock worth $360,000 after acquiring an additional 155 shares during the last quarter. Beam Wealth Advisors Inc. boosted its position in shares of Procter & Gamble by 12.8% during the second quarter. Beam Wealth Advisors Inc. now owns 1,529 shares of the company’s stock worth $220,000 after acquiring an additional 173 shares during the last quarter. Jag Capital Management LLC boosted its position in shares of Procter & Gamble by 0.7% during the second quarter. Jag Capital Management LLC now owns 24,678 shares of the company’s stock worth $3,548,000 after acquiring an additional 183 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its stake in Procter & Gamble by 0.8% during the second quarter. Blue Chip Partners Inc. now owns 20,697 shares of the company’s stock valued at $2,976,000 after purchasing an additional 155 shares in the last quarter. 63.64% of the stock is currently owned by institutional investors.

Procter & Gamble Company Profile

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The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

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