Bank of America Has Lowered Expectations for Procter & Gamble (NYSE:PG) Stock Price

Key Points

• Bank of America cut its price target on Procter & Gamble to $167 (from $171) while maintaining a "buy" rating, implying roughly a 13.85% upside from current levels.
• Analyst consensus is a Moderate Buy with a consensus price target of $163.89, reflecting a near-even split of 12 Buy and 10 Hold ratings amid several recent target reductions.
• There has been notable insider selling

Procter & Gamble (NYSE:PG - Get Free Report) had its target price decreased by research analysts at Bank of America from $171.00 to $167.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 13.85% from the company's current price.

A number of other brokerages have also weighed in on PG. Royal Bank Of Canada lowered their price objective on Procter & Gamble from $172.00 to $167.00 and set an "outperform" rating for the company in a research note on Thursday. Piper Sandler cut their target price on Procter & Gamble from $150.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Procter & Gamble in a research report on Friday, March 27th. Rothschild & Co Redburn lifted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company cut their price objective on Procter & Gamble from $177.00 to $158.00 and set an "overweight" rating on the stock in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and a consensus price target of $163.89.

Procter & Gamble Trading Up 1.2%

NYSE PG opened at $146.69 on Friday. Procter & Gamble has a 52 week low of $137.62 and a 52 week high of $171.65. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49. The stock has a market cap of $340.90 billion, a P/E ratio of 21.73, a PEG ratio of 5.10 and a beta of 0.41. The company's fifty day simple moving average is $153.17 and its 200-day simple moving average is $149.31.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $22.36 billion. During the same period in the prior year, the company posted $1.88 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that Procter & Gamble will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 1,809 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $159.46, for a total value of $288,463.14. Following the sale, the insider directly owned 30,215 shares in the company, valued at approximately $4,818,083.90. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 36,093 shares of the company's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the transaction, the chief executive officer owned 34,994 shares of the company's stock, valued at $5,680,576.02. This represents a 50.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 348,618 shares of company stock valued at $55,462,643 in the last three months. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Several hedge funds and other institutional investors have recently made changes to their positions in PG. Halbert Hargrove Global Advisors LLC bought a new position in shares of Procter & Gamble in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Procter & Gamble by 1,000.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Park Square Financial Group LLC lifted its holdings in Procter & Gamble by 65.1% in the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock worth $26,000 after purchasing an additional 71 shares during the period. Evolution Wealth Management Inc. lifted its holdings in Procter & Gamble by 1,315.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock worth $26,000 after purchasing an additional 171 shares during the period. Finally, Litman Gregory Wealth Management LLC bought a new position in Procter & Gamble in the 4th quarter valued at about $26,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

About Procter & Gamble

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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