Erste Group Bank Upgrades Procter & Gamble (NYSE:PG) to “Strong-Buy”

Procter & Gamble (NYSE:PG) was upgraded by investment analysts at Erste Group Bank from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on PG. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Barclays boosted their price objective on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Piper Sandler cut their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Stock Down 1.2 %

Shares of NYSE:PG opened at $167.66 on Monday. The stock has a market cap of $393.14 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 12-month low of $153.52 and a 12-month high of $180.43. The business’s 50 day moving average is $167.58 and its 200 day moving average is $169.78.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, sell-side analysts forecast that Procter & Gamble will post 6.91 earnings per share for the current fiscal year.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 111 Capital purchased a new position in Procter & Gamble in the 4th quarter worth approximately $716,000. Thoma Capital Management LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $318,000. Wealth Enhancement Advisory Services LLC grew its stake in Procter & Gamble by 9.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,671,883 shares of the company’s stock worth $280,291,000 after buying an additional 137,682 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in Procter & Gamble by 8.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 162,627 shares of the company’s stock worth $27,265,000 after buying an additional 13,068 shares in the last quarter. Finally, Members Wealth LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $725,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.