JPMorgan Chase & Co. Lowers Procter & Gamble (NYSE:PG) Price Target to $181.00

Procter & Gamble (NYSE:PG - Free Report) had its target price cut by JPMorgan Chase & Co. from $186.00 to $181.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

PG has been the subject of several other reports. Barclays cut Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. Wells Fargo & Company decreased their price objective on shares of Procter & Gamble from $190.00 to $176.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Piper Sandler started coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 target price on the stock. Hsbc Global Res upgraded Procter & Gamble to a "strong-buy" rating in a research note on Friday, October 4th. Finally, Evercore ISI upped their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $180.05.

Procter & Gamble Trading Up 0.6 %

Shares of NYSE:PG traded up $0.89 during trading on Thursday, reaching $160.54. 5,753,030 shares of the stock were exchanged, compared to its average volume of 6,788,053. The firm's 50-day moving average price is $169.37 and its 200 day moving average price is $169.45. The firm has a market cap of $378.08 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. Procter & Gamble has a 12-month low of $146.28 and a 12-month high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the company posted $1.83 EPS. Procter & Gamble's revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Procter & Gamble will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, January 24th. Procter & Gamble's payout ratio is currently 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,439 shares of company stock valued at $13,317,460. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC raised its holdings in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company's stock valued at $16,300,000 after acquiring an additional 4,035 shares during the period. Copley Financial Group Inc. acquired a new stake in Procter & Gamble during the 3rd quarter valued at $668,000. Fortem Financial Group LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at $569,000. Synovus Financial Corp grew its holdings in shares of Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company's stock valued at $32,065,000 after buying an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Procter & Gamble by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company's stock valued at $484,583,000 after buying an additional 201,695 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.