Wells Fargo & Company Has Lowered Expectations for Procter & Gamble (NYSE:PG) Stock Price

Procter & Gamble (NYSE:PG) had its price objective lowered by Wells Fargo & Company from $190.00 to $176.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.60% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on PG. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Morgan Stanley lifted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a report on Friday, December 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.75.

Procter & Gamble Price Performance

PG stock opened at $162.07 on Tuesday. Procter & Gamble has a 1 year low of $146.28 and a 1 year high of $180.43. The firm has a market capitalization of $381.68 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. 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 business has a 50 day simple moving average of $169.83 and a 200-day simple moving average of $169.70.

Procter & Gamble (NYSE:PG) last posted 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 business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the company’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 transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock worth $13,317,460 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

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

About Procter & Gamble

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.