BNP Paribas Reaffirms "Outperform" Rating for Procter & Gamble (NYSE:PG)

Key Points

• BNP Paribas has restated its "outperform" rating for Procter & Gamble (NYSE:PG) with a price target of $177.00, suggesting a potential upside of 14.23% from its current price.
• Procter & Gamble posted a quarterly EPS of $1.48, surpassing analysts' expectations and achieving a 1.7% year-over-year revenue growth.
• Institutional investors hold 65.77% of Procter & Gamble's stock, with significant increases in holdings from firms like Brighton Jones LLC and Bank Pictet & Cie Europe AG.

Procter & Gamble (NYSE:PG - Get Free Report)'s stock had its "outperform" rating restated by analysts at BNP Paribas in a research note issued on Friday,Benzinga reports. They currently have a $177.00 price target on the stock. BNP Paribas' target price would indicate a potential upside of 14.23% from the stock's current price.

Several other analysts have also commented on the company. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Evercore ISI reissued an "in-line" rating and issued a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a research note on Monday, July 14th. Finally, Citigroup reduced their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.94.

Procter & Gamble Stock Up 0.8%

Shares of PG traded up $1.22 during midday trading on Friday, reaching $154.96. 3,199,948 shares of the stock were exchanged, compared to its average volume of 8,146,568. Procter & Gamble has a 12-month low of $149.91 and a 12-month high of $180.43. The firm has a 50 day simple moving average of $157.38 and a 200-day simple moving average of $163.37. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The company has a market cap of $362.97 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. The business had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. Research analysts forecast that Procter & Gamble will post 6.91 EPS for the current year.

Institutional Investors Weigh In On Procter & Gamble

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after purchasing an additional 13,617 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Procter & Gamble by 493.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock valued at $57,294,000 after purchasing an additional 284,174 shares during the period. Marshall Wace LLP boosted its holdings in shares of Procter & Gamble by 134.4% in the fourth quarter. Marshall Wace LLP now owns 179,672 shares of the company's stock valued at $30,122,000 after purchasing an additional 103,024 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $67,000. Finally, Capital International Sarl boosted its holdings in shares of Procter & Gamble by 34.7% in the fourth quarter. Capital International Sarl now owns 3,476 shares of the company's stock valued at $583,000 after purchasing an additional 896 shares during the period. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.