Deutsche Bank Initiates Coverage on Procter & Gamble (PG)
Investment analysts at Deutsche Bank assumed coverage on shares of Procter & Gamble (NYSE:PG) in a report released on Wednesday. The brokerage set a “buy” rating and a $101.00 price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 10.99% from the stock’s previous close.
A number of other brokerages have also recently commented on PG. Stifel Nicolaus set a $87.00 target price on shares of Procter & Gamble and gave the company a “hold” rating in a report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and set a $104.00 price target on shares of Procter & Gamble in a research note on Tuesday, October 10th. Goldman Sachs Group reiterated a “sell” rating on shares of Procter & Gamble in a research note on Wednesday, October 4th. Royal Bank of Canada reiterated a “buy” rating on shares of Procter & Gamble in a research note on Monday, October 23rd. Finally, Bank of America boosted their price target on shares of Procter & Gamble from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $88.31.
Shares of Procter & Gamble (NYSE PG) opened at $91.00 on Wednesday. Procter & Gamble has a 1-year low of $83.24 and a 1-year high of $94.67. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The company has a market cap of $227,945.67, a PE ratio of 22.58, a PEG ratio of 2.89 and a beta of 0.67.
Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 20th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The business had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $16.69 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. sell-side analysts anticipate that Procter & Gamble will post 4.17 EPS for the current fiscal year.
In other Procter & Gamble news, insider Marylynn Fergusonmchugh sold 4,363 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $87.00, for a total transaction of $379,581.00. Following the transaction, the insider now directly owns 85,495 shares in the company, valued at $7,438,065. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Juan Fernando Posada sold 4,878 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $89.80, for a total transaction of $438,044.40. Following the transaction, the insider now owns 25,429 shares in the company, valued at $2,283,524.20. The disclosure for this sale can be found here. Insiders have sold 21,575 shares of company stock worth $1,927,095 over the last 90 days. 0.35% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Asset Planning Services Ltd. grew its position in shares of Procter & Gamble by 0.4% in the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after purchasing an additional 5 shares during the last quarter. Harding Loevner LP acquired a new stake in shares of Procter & Gamble in the second quarter valued at approximately $119,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Procter & Gamble in the third quarter valued at approximately $125,000. Blume Capital Management Inc. grew its position in shares of Procter & Gamble by 25.4% in the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after purchasing an additional 300 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its position in shares of Procter & Gamble by 11.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,603 shares of the company’s stock valued at $144,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 59.54% of the company’s stock.
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Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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