Procter & Gamble (NYSE:PG) Given New $142.00 Price Target at Piper Sandler

Key Points

• Piper Sandler cut its price target on Procter & Gamble to $142 (from $150) and kept a "neutral" rating, implying roughly a 1.13% downside from the current price.
• Several other brokers also trimmed targets, but the stock's consensus remains a "Moderate Buy" with an average analyst target of $164.79.
• Company insiders have been net sellers—including large February sales by Chairman Jon Moeller and CEO Gary Coombe—with about $55.5 million of insider stock sold over the past 90 days (insiders now own 0.20%).

Procter & Gamble (NYSE:PG - Get Free Report) had its price target dropped by analysts at Piper Sandler from $150.00 to $142.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential downside of 1.13% from the stock's current price.

A number of other equities analysts also recently weighed in on the company. BNP Paribas Exane dropped their target price on Procter & Gamble from $172.00 to $164.00 and set an "outperform" rating on the stock in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $171.00 to $162.00 and set a "hold" rating on the stock in a report on Monday, March 30th. UBS Group dropped their target price on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a report on Tuesday. TD Cowen lowered their price target on Procter & Gamble from $156.00 to $142.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Procter & Gamble in a research note on Friday, March 27th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $164.79.

Procter & Gamble Price Performance

NYSE PG opened at $143.62 on Wednesday. The stock's 50-day moving average price is $153.28 and its two-hundred day moving average price is $149.35. 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 company has a market cap of $333.78 billion, a PE ratio of 21.31, a PEG ratio of 5.04 and a beta of 0.41. Procter & Gamble has a 1 year low of $137.62 and a 1 year high of $171.65.

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 (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 EPS. On average, analysts predict that Procter & Gamble will post 6.91 EPS for the current year.

Insider Activity at Procter & Gamble

In other news, Chairman Jon R. Moeller sold 162,232 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the sale, the chairman owned 319,385 shares of the company's stock, valued at $51,884,093.25. This trade represents a 33.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 36,093 shares of Procter & Gamble stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total value 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 represents a 50.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 348,618 shares of company stock valued at $55,462,643 over the last 90 days. Insiders own 0.20% of the company's stock.

Institutional Trading of Procter & Gamble

Several institutional investors have recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble in the 4th quarter valued at $4,664,783,000. Cardano Risk Management B.V. raised its holdings in Procter & Gamble by 1,104.8% in the 4th quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company's stock valued at $1,364,518,000 after acquiring an additional 8,731,126 shares in the last quarter. Auto Owners Insurance Co raised its holdings in Procter & Gamble by 14,231.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company's stock valued at $508,700,000 after acquiring an additional 3,524,876 shares in the last quarter. Vanguard Group Inc. raised its holdings in Procter & Gamble by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company's stock valued at $34,030,358,000 after acquiring an additional 2,829,151 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Procter & Gamble by 100.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,460,939 shares of the company's stock worth $782,607,000 after buying an additional 2,741,924 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

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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