Wells Fargo & Company Lowers Procter & Gamble (NYSE:PG) Price Target to $176.00

Procter & Gamble (NYSE:PG - Get Free Report) had its price target lowered by Wells Fargo & Company from $190.00 to $176.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 9.07% from the stock's current price.

A number of other research analysts have also commented on the company. Barclays lowered 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. Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price objective for the company. DA Davidson reissued a "buy" rating and issued a $209.00 price target on shares of Procter & Gamble in a research report on Friday, December 27th. Morgan Stanley lifted their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Finally, Hsbc Global Res raised Procter & Gamble to a "strong-buy" rating in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $179.75.

Procter & Gamble Stock Performance

NYSE:PG traded up $0.76 during midday trading on Tuesday, reaching $161.36. The stock had a trading volume of 8,447,325 shares, compared to its average volume of 6,959,314. The stock has a market capitalization of $380.01 billion, a P/E ratio of 27.82, a PEG ratio of 3.70 and a beta of 0.45. Procter & Gamble has a 1-year low of $146.28 and a 1-year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm's fifty day simple moving average is $170.03 and its 200-day simple moving average is $169.80.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 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 analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share. On average, equities research analysts forecast that Procter & Gamble will post 6.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was 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 directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares in the company, valued at approximately $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. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 in the last 90 days. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.