Wells Fargo & Company Issues Positive Forecast for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PG - Get Free Report) had its price objective upped by Wells Fargo & Company from $188.00 to $190.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 7.80% from the company's current price.

Several other equities research analysts also recently weighed in on PG. Wolfe Research raised Procter & Gamble to a "strong-buy" rating in a research report on Friday, August 23rd. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a "neutral" rating and a $174.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an "overweight" rating in a research note on Thursday, September 19th. Evercore ISI increased their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, Barclays lowered shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $178.00.

Procter & Gamble Stock Up 2.0 %

Procter & Gamble stock traded up $3.51 during mid-day trading on Friday, reaching $176.26. 10,608,805 shares of the company were exchanged, compared to its average volume of 6,689,682. The business has a fifty day moving average of $170.00 and a 200 day moving average of $168.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The firm has a market cap of $415.10 billion, a P/E ratio of 30.48, a PEG ratio of 3.69 and a beta of 0.42. Procter & Gamble has a 12-month low of $142.50 and a 12-month high of $177.94.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share. Research analysts anticipate that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the business's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jon R. Moeller sold 87,979 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the transaction, the chief executive officer now owns 300,777 shares of the company's stock, valued at approximately $51,252,400.80. This trade represents a 22.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,693 shares of company stock worth $27,311,345. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter valued at $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble in the third quarter valued at about $33,000. POM Investment Strategies LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $36,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.