Procter & Gamble (NYSE:PG) Given New $160.00 Price Target at Truist Financial

Procter & Gamble (NYSE:PGGet Rating) had its price target lowered by Truist Financial from $175.00 to $160.00 in a research note issued to investors on Monday, The Fly reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on PG. Evercore ISI set a $170.00 price target on Procter & Gamble in a research report on Monday, June 20th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. UBS Group lowered their target price on Procter & Gamble to $153.00 in a research report on Friday, July 22nd. StockNews.com upgraded Procter & Gamble from a hold rating to a buy rating in a research report on Wednesday, May 18th. Finally, Credit Suisse Group raised their target price on Procter & Gamble from $140.00 to $150.00 and gave the company a neutral rating in a research report on Thursday, April 21st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $162.53.

Procter & Gamble Trading Up 2.9 %

NYSE:PG opened at $142.90 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $143.13 and its two-hundred day moving average is $151.36. Procter & Gamble has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a market cap of $342.86 billion, a PE ratio of 24.60, a P/E/G ratio of 4.31 and a beta of 0.36.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly 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 analyst estimates of $19.41 billion. Procter & Gamble had a return on equity of 32.52% and a net margin of 18.39%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, analysts predict that Procter & Gamble will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

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

Insider Buying and Selling at Procter & Gamble

In other news, CEO Sundar G. Raman sold 1,599 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the sale, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at approximately $580,770.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procter & Gamble

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Procter & Gamble by 1.1% in the first quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock worth $33,236,946,000 after buying an additional 2,394,234 shares during the period. BlackRock Inc. boosted its position in shares of Procter & Gamble by 1.2% in the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock worth $25,651,517,000 after buying an additional 1,785,863 shares during the period. State Street Corp boosted its position in shares of Procter & Gamble by 1.7% in the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock worth $17,250,846,000 after buying an additional 1,716,517 shares during the period. Geode Capital Management LLC boosted its position in shares of Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 43,444,122 shares of the company’s stock worth $7,090,497,000 after buying an additional 972,826 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Procter & Gamble by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock worth $3,627,510,000 after buying an additional 983,197 shares during the period. 63.64% of the stock is owned by institutional investors.

About Procter & Gamble

(Get Rating)

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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