Procter & Gamble (NYSE:PG) Price Target Increased to $165.00 by Analysts at Royal Bank of Canada

Posted by Defense World Staff on Apr 25th, 2023

Procter & Gamble (NYSE:PG – Get Rating) had its price target increased by Royal Bank of Canada from $160.00 to $165.00 in a research report report published on Monday, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also issued reports on PG. Truist Financial boosted their price target on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock a buy rating in a research note on Monday. StockNews.com upgraded Procter & Gamble from a hold rating to a buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock a buy rating in a research note on Monday. Evercore ISI increased their price target on Procter & Gamble from $160.00 to $170.00 and gave the company an outperform rating in a research report on Monday. Finally, JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a neutral rating to an overweight rating and upped their target price for the stock from $150.00 to $155.00 in a research note on Friday, March 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $161.69.

Procter & Gamble Stock Performance

Shares of PG stock opened at $156.35 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The firm has a market cap of $368.85 billion, a P/E ratio of 27.24, a P/E/G ratio of 4.35 and a beta of 0.41. The firm’s 50 day moving average price is $144.64 and its 200-day moving average price is $143.31. Procter & Gamble has a one year low of $122.18 and a one year high of $163.71.

Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The company had revenue of $20.07 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Procter & Gamble will post 5.84 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be issued a dividend of $0.9407 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date is Thursday, April 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.41%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Insider Activity

In related news, CEO Ma. Fatima Francisco sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the transaction, the chief executive officer now owns 9,343 shares in the company, valued at approximately $1,465,356.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Susan Street Whaley sold 435 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $141.82, for a total transaction of $61,691.70. Following the transaction, the insider now owns 10,840 shares of the company’s stock, valued at $1,537,328.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ma. Fatima Francisco sold 8,000 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $156.84, for a total value of $1,254,720.00. Following the sale, the chief executive officer now directly owns 9,343 shares of the company’s stock, valued at $1,465,356.12. The disclosure for this sale can be found here. In the last three months, insiders sold 12,766 shares of company stock valued at $1,911,231. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several large investors have recently modified their holdings of PG. EWG Elevate Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $26,000. Silicon Valley Capital Partners acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new position in Procter & Gamble during the third quarter worth $30,000. Luken Investment Analytics LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $37,000. Finally, Bourgeon Capital Management LLC boosted its position in shares of Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

About Procter & Gamble

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.