Procter & Gamble (NYSE:PG) Upgraded to “Buy” at DA Davidson

Procter & Gamble (NYSE:PG) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $209.00 target price on the stock, up from their prior target price of $160.00. DA Davidson’s target price would indicate a potential upside of 16.56% from the stock’s current price.

A number of other research firms also recently weighed in on PG. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Morgan Stanley raised their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Eight equities research 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, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Price Performance

NYSE:PG opened at $179.31 on Monday. The firm has a market capitalization of $422.28 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 3.81 and a beta of 0.42. Procter & Gamble has a 52-week low of $142.50 and a 52-week high of $179.46. The stock has a fifty day moving average of $170.11 and a 200 day moving average of $168.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $21.99 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Procter & Gamble will post 6.94 EPS for the current fiscal year.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,233 shares of company stock worth $6,024,234 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position in Procter & Gamble by 5.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock worth $5,192,000 after purchasing an additional 1,657 shares during the period. Quent Capital LLC raised its position in Procter & Gamble by 2.0% in the 1st quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after purchasing an additional 206 shares during the period. Creekmur Asset Management LLC raised its position in Procter & Gamble by 54.3% in the 1st quarter. Creekmur Asset Management LLC now owns 6,792 shares of the company’s stock worth $1,102,000 after purchasing an additional 2,391 shares during the period. Tidal Investments LLC raised its position in Procter & Gamble by 5.6% in the 1st quarter. Tidal Investments LLC now owns 110,747 shares of the company’s stock worth $17,971,000 after purchasing an additional 5,913 shares during the period. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Procter & Gamble during the first quarter worth approximately $3,771,000. 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.