JPMorgan Chase & Co. Has Lowered Expectations for Procter & Gamble (NYSE:PG) Stock Price

Key Points

• JPMorgan cut its price target on Procter & Gamble to $162 from $165, while maintaining an overweight rating, implying roughly an 11.9% upside from the prior close.
• Several other firms also trimmed targets, leaving analysts' consensus at a Moderate Buy with an average price target of $163 (12 Buy ratings vs. 10 Hold ratings).
• PG shares opened around $144.77, trade at a P/E of about 21.4, and insiders sold roughly $55.5 million of stock over the last quarter.

Procter & Gamble (NYSE:PG - Get Free Report) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $165.00 to $162.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 11.90% from the company's previous close.

A number of other brokerages have also weighed in on PG. Raymond James Financial cut their price target on shares of Procter & Gamble from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Tuesday. Bank of America dropped their price target on shares of Procter & Gamble from $171.00 to $167.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Piper Sandler reduced their target price on Procter & Gamble from $150.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, April 8th. TD Cowen lowered their target price on Procter & Gamble from $156.00 to $142.00 and set a "hold" rating on the stock in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group cut their price objective on shares of Procter & Gamble from $159.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.00.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $144.77 on Friday. The stock has a fifty day moving average price of $152.05 and a two-hundred day moving average price of $149.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. Procter & Gamble has a 52-week low of $137.62 and a 52-week high of $170.99. The firm has a market capitalization of $336.45 billion, a P/E ratio of 21.39, a P/E/G ratio of 5.52 and a beta of 0.41.

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

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 1,809 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $159.46, for a total transaction of $288,463.14. Following the completion of the transaction, the insider directly owned 30,215 shares of the company's stock, valued at approximately $4,818,083.90. This represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 36,093 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total transaction of $5,858,976.69. Following the completion of the sale, the chief executive officer directly owned 34,994 shares in the company, valued at approximately $5,680,576.02. This trade 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 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Procter & Gamble during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Procter & Gamble by 1,000.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company's stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Litman Gregory Wealth Management LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at $26,000. Park Square Financial Group LLC boosted its position in shares of Procter & Gamble by 65.1% during the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock valued at $26,000 after buying an additional 71 shares during the last quarter. Finally, Evolution Wealth Management Inc. boosted its position in shares of Procter & Gamble by 1,315.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock valued at $26,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

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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