Procter & Gamble (NYSE:PG) Price Target Lowered to $166.00 at Morgan Stanley

Procter & Gamble (NYSE:PGGet Free Report) had its price target dropped by equities researchers at Morgan Stanley from $175.00 to $166.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.00% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Procter & Gamble from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Monday, March 30th. TD Cowen cut their target price on shares of Procter & Gamble from $156.00 to $142.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group reduced their price target on shares of Procter & Gamble from $179.00 to $175.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Procter & Gamble from $177.00 to $158.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.32.

Get Our Latest Research Report on PG

Procter & Gamble Stock Up 0.5%

Shares of NYSE PG opened at $143.10 on Wednesday. Procter & Gamble has a 52-week low of $137.62 and a 52-week high of $170.99. The firm has a fifty day moving average of $151.21 and a 200-day moving average of $148.78. The stock has a market capitalization of $332.56 billion, a PE ratio of 21.17, a P/E/G ratio of 5.57 and a beta of 0.41. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PGGet Free Report) last announced its quarterly earnings data on Friday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $22.21 billion during the quarter, compared to analysts’ expectations of $22.36 billion. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. On average, analysts anticipate that Procter & Gamble will post 6.96 EPS for the current year.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Gary A. Coombe sold 36,093 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the transaction, the chief executive officer owned 34,994 shares in the company, valued at approximately $5,680,576.02. This trade represents a 50.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,827 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $160.31, for a total transaction of $2,056,296.37. Following the completion of the transaction, the insider owned 12,639 shares in the company, valued at $2,026,158.09. The trade was a 50.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,618 shares of company stock worth $55,462,643 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Procter & Gamble by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after purchasing an additional 2,829,151 shares during the period. State Street Corp increased its holdings in shares of Procter & Gamble by 1.0% during the 4th quarter. State Street Corp now owns 101,618,926 shares of the company’s stock worth $14,563,008,000 after purchasing an additional 984,102 shares during the period. Geode Capital Management LLC increased its holdings in shares of Procter & Gamble by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock worth $8,962,689,000 after purchasing an additional 1,974,556 shares during the period. Norges Bank bought a new position in shares of Procter & Gamble during the 4th quarter worth about $4,664,783,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Procter & Gamble by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,612,826 shares of the company’s stock valued at $4,243,815,000 after acquiring an additional 1,091,091 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

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About Procter & Gamble

(Get Free Report)

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

Further Reading

Analyst Recommendations for Procter & Gamble (NYSE:PG)

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