Deutsche Bank Raises Procter & Gamble (NYSE:PG) Price Target to $109.00

Procter & Gamble (NYSE:PG) had its target price upped by research analysts at Deutsche Bank from $106.00 to $109.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target would suggest a potential downside of 1.54% from the stock’s previous close.

A number of other analysts also recently issued reports on PG. Macquarie set a $110.00 price objective on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Tuesday, February 26th. DZ Bank restated a “sell” rating on shares of Procter & Gamble in a report on Wednesday, April 24th. Credit Suisse Group set a $100.00 price objective on shares of Procter & Gamble and gave the stock a “hold” rating in a report on Friday, May 10th. Morgan Stanley set a $111.00 price objective on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $111.00 price objective on shares of Procter & Gamble in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $101.58.

Shares of PG stock traded down $0.50 on Monday, hitting $110.70. The stock had a trading volume of 178,650 shares, compared to its average volume of 6,461,937. The company’s 50 day moving average is $106.37. The company has a market cap of $278.93 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.58 and a beta of 0.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.60 and a current ratio of 0.79. Procter & Gamble has a 12-month low of $75.39 and a 12-month high of $111.75.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, April 23rd. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The company had revenue of $16.46 billion during the quarter, compared to the consensus estimate of $16.37 billion. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 earnings per share. As a group, equities analysts forecast that Procter & Gamble will post 4.48 earnings per share for the current year.

In other news, VP Valarie L. Sheppard sold 26,891 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $106.32, for a total value of $2,859,051.12. Following the completion of the transaction, the vice president now directly owns 51,323 shares in the company, valued at $5,456,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Deborah P. Majoras sold 6,161 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $103.10, for a total transaction of $635,199.10. Following the completion of the transaction, the insider now owns 44,996 shares of the company’s stock, valued at $4,639,087.60. The disclosure for this sale can be found here. Insiders have sold 320,840 shares of company stock valued at $33,904,086 in the last quarter. Company insiders own 1.84% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Frontier Investment Mgmt Co. purchased a new position in Procter & Gamble in the 3rd quarter valued at approximately $286,000. Prio Wealth Limited Partnership increased its position in Procter & Gamble by 1.9% during the third quarter. Prio Wealth Limited Partnership now owns 156,937 shares of the company’s stock worth $13,061,000 after buying an additional 2,909 shares in the last quarter. Destination Wealth Management increased its position in Procter & Gamble by 1.2% during the third quarter. Destination Wealth Management now owns 57,425 shares of the company’s stock worth $4,779,000 after buying an additional 664 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Procter & Gamble by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 576,794 shares of the company’s stock worth $48,007,000 after buying an additional 10,656 shares in the last quarter. Finally, Biondo Investment Advisors LLC increased its position in Procter & Gamble by 1.8% during the third quarter. Biondo Investment Advisors LLC now owns 66,235 shares of the company’s stock worth $5,513,000 after buying an additional 1,150 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Analyst Recommendations for Procter & Gamble (NYSE:PG)

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