Procter & Gamble (NYSE:PG) Given New $185.00 Price Target at Argus

Procter & Gamble (NYSE:PG) had its price objective raised by equities research analysts at Argus from $180.00 to $185.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ price target indicates a potential upside of 13.33% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PG. Wells Fargo & Company lifted their target price on Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and lifted their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. UBS Group lifted their target price on Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Barclays lifted their target price on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a research note on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

Procter & Gamble Price Performance

Procter & Gamble stock traded up $0.64 during midday trading on Thursday, hitting $163.24. The company’s stock had a trading volume of 3,509,064 shares, compared to its average volume of 6,927,018. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $159.46 and its 200-day moving average price is $153.32. Procter & Gamble has a 12 month low of $141.45 and a 12 month high of $164.32. The company has a market capitalization of $385.27 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. The firm had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. Analysts anticipate that Procter & Gamble will post 6.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the sale, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the sale, the insider now owns 11,886 shares in the company, valued at $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the sale, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold 100,865 shares of company stock worth $16,029,280 over the last three months. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds have recently added to or reduced their stakes in PG. Norges Bank bought a new position in Procter & Gamble in the fourth quarter valued at about $3,956,117,000. Cerity Partners LLC lifted its stake in Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after buying an additional 3,159,796 shares during the period. Wellington Management Group LLP lifted its stake in Procter & Gamble by 9.4% in the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after buying an additional 3,047,557 shares during the period. International Assets Investment Management LLC lifted its stake in Procter & Gamble by 13,850.3% in the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after buying an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after buying an additional 2,268,805 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.