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

Procter & Gamble (NYSE:PG) had its target price cut by Wells Fargo & Company from $190.00 to $176.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on PG. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Morgan Stanley boosted their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. DA Davidson restated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research note on Friday, December 27th. Finally, Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.75.

Procter & Gamble Stock Performance

Shares of PG 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 stock has a market capitalization of $381.68 billion, a PE ratio of 27.94, a PEG ratio of 3.70 and a beta of 0.45. 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 stock has a 50-day simple moving average of $169.77 and a 200-day simple moving average of $169.64.

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. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. On average, analysts predict that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction dated 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 sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated 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 transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their position. 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 ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Acorn Creek Capital LLC raised its holdings in shares of Procter & Gamble by 2.8% in the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after acquiring an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in Procter & Gamble by 1.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares in the last quarter. Traveka Wealth LLC boosted its stake in shares of Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 0.7% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock worth $1,507,000 after buying an additional 61 shares in the last quarter. Finally, Valued Wealth Advisors LLC raised its position in shares of Procter & Gamble by 11.2% in the third quarter. Valued Wealth Advisors LLC now owns 605 shares of the company’s stock valued at $105,000 after buying an additional 61 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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.