Wells Fargo & Company Reaffirms Hold Rating for Procter & Gamble (PG)
Wells Fargo & Company restated their hold rating on shares of Procter & Gamble (NYSE:PG) in a research report report published on Sunday. Wells Fargo & Company currently has a $88.00 price target on the stock.
“We also hope it pressures PG to break down its insular culture, which we would view positively. We expect shares to initially trade higher on the news, and expect a “Peltz benefit” will continue to be priced into shares, which should limit downside risk. That said, we also recognize that Peltz is only one voice on the Board and believe for shares to move higher from here, it will take evidence of improved fundamental execution (which we continue to believe could take some time). Bottom Line – PG’s execution remains choppy and category deceleration is becoming more concerning especially in the U.S. We would like to see more top-line improvement and sustained market share gains before becoming more constructive on the stock, especially with shares trading at 21.3x CY18E EPS. We maintain our Market Perform rating.”,” the firm’s analyst commented.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group restated a buy rating and set a $104.00 target price on shares of Procter & Gamble in a research note on Tuesday, October 10th. Bank of America raised their target price 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. BidaskClub upgraded shares of Procter & Gamble from a hold rating to a buy rating in a research note on Saturday, August 19th. Royal Bank of Canada restated a buy rating on shares of Procter & Gamble in a research note on Monday, October 23rd. Finally, Vetr upgraded shares of Procter & Gamble from a hold rating to a buy rating and set a $93.02 target price on the stock in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $88.38.
Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 20th. The company reported $1.09 EPS for the quarter, topping 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 company had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.69 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s revenue was up .8% compared to the same quarter last year. equities analysts forecast that Procter & Gamble will post 4.17 earnings per share for the current year.
In related news, insider R. Alexandra Keith sold 1,298 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $89.11, for a total value of $115,664.78. Following the completion of the transaction, the insider now directly owns 20,135 shares of the company’s stock, valued at $1,794,229.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Juan Fernando Posada sold 4,878 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $89.80, for a total transaction of $438,044.40. Following the completion of the transaction, the insider now directly owns 25,429 shares of the company’s stock, valued at $2,283,524.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,575 shares of company stock valued at $1,927,095. Insiders own 0.35% of the company’s stock.
Several hedge funds have recently bought and sold shares of PG. Vanguard Group Inc. boosted its stake in Procter & Gamble by 2.3% during the second quarter. Vanguard Group Inc. now owns 180,730,770 shares of the company’s stock worth $15,750,688,000 after buying an additional 4,066,266 shares during the period. BlackRock Inc. boosted its stake in Procter & Gamble by 1.4% during the second quarter. BlackRock Inc. now owns 156,361,011 shares of the company’s stock worth $13,626,862,000 after buying an additional 2,164,426 shares during the period. Trian Fund Management L.P. boosted its stake in Procter & Gamble by 2.4% during the second quarter. Trian Fund Management L.P. now owns 37,612,012 shares of the company’s stock worth $3,277,887,000 after buying an additional 893,157 shares during the period. Truepoint Inc. boosted its stake in Procter & Gamble by 8,711.3% during the third quarter. Truepoint Inc. now owns 26,889,686 shares of the company’s stock worth $26,890,000 after buying an additional 26,584,514 shares during the period. Finally, Legal & General Group Plc boosted its stake in Procter & Gamble by 2.0% during the third quarter. Legal & General Group Plc now owns 13,957,931 shares of the company’s stock worth $1,269,884,000 after buying an additional 277,715 shares during the period. 59.42% of the stock is owned by hedge funds and other institutional investors.
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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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