Citigroup Cuts Procter & Gamble (NYSE:PG) Price Target to $181.00

Procter & Gamble (NYSE:PG - Free Report) had its price objective cut by Citigroup from $200.00 to $181.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Piper Sandler decreased their target price 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. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Erste Group Bank upgraded Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus lifted their price objective on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $180.79.

Procter & Gamble Stock Down 0.1 %

Shares of NYSE PG traded down $0.17 during midday trading on Friday, hitting $161.68. 3,075,966 shares of the company's stock were exchanged, compared to its average volume of 7,112,859. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm's fifty day simple moving average is $168.07 and its 200-day simple moving average is $168.25. The company has a market cap of $379.11 billion, a PE ratio of 25.73, a P/E/G ratio of 3.76 and a beta of 0.43. Procter & Gamble has a twelve month low of $156.58 and a twelve month high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company's quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts predict that Procter & Gamble will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.61%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 66.98%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 35,000 shares of the 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 completion of the transaction, the chief executive officer now owns 22,051 shares of the company's stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PG. Vanguard Group Inc. grew its position in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock worth $9,457,000,000 after acquiring an additional 1,267,419 shares during the last quarter. Norges Bank acquired a new stake in Procter & Gamble in the fourth quarter worth about $5,244,463,000. Northern Trust Corp lifted its position in Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

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.