Procter & Gamble (NYSE:PG) Receives Buy Rating from Scotiabank

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Scotiabank reaffirmed their buy rating on shares of Procter & Gamble (NYSE:PG) in a research report released on Friday, AnalystRatings.com reports.

Several other brokerages have also commented on PG. UBS Group boosted their price objective on Procter & Gamble to $102.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Barclays raised Procter & Gamble from an equal weight rating to an overweight rating and upped their target price for the stock from $94.00 to $112.00 in a research note on Wednesday, April 24th. Wells Fargo & Co raised Procter & Gamble from a market perform rating to an outperform rating and upped their target price for the stock from $78.00 to $115.00 in a research note on Monday, April 8th. Deutsche Bank upped their target price on Procter & Gamble from $100.00 to $106.00 and gave the stock a hold rating in a research note on Wednesday, April 24th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $100.00 target price on shares of Procter & Gamble in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Procter & Gamble has an average rating of Hold and an average price target of $102.32.

Shares of NYSE PG opened at $114.05 on Friday. Procter & Gamble has a 12 month low of $77.54 and a 12 month high of $114.27. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $284.47 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 3.43 and a beta of 0.45. The stock’s 50-day simple moving average is $109.03.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. Procter & Gamble had a return on equity of 21.61% and a net margin of 16.44%. The company had revenue of $16.46 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Procter & Gamble’s revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Procter & Gamble will post 4.48 EPS for the current year.

In other news, CEO David S. Taylor sold 30,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $105.00, for a total transaction of $3,150,000.00. Following the completion of the sale, the chief executive officer now owns 256,088 shares of the company’s stock, valued at $26,889,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Deborah P. Majoras sold 6,161 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $103.10, for a total value of $635,199.10. Following the sale, the insider now directly owns 44,996 shares of the company’s stock, valued at approximately $4,639,087.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,840 shares of company stock valued at $33,904,086. 1.84% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Procter & Gamble by 26.4% during the first quarter. FMR LLC now owns 35,400,538 shares of the company’s stock valued at $3,683,425,000 after acquiring an additional 7,389,251 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of Procter & Gamble by 15,168.2% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,936,221 shares of the company’s stock valued at $269,897,000 after acquiring an additional 2,916,990 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Procter & Gamble by 23.8% during the third quarter. TIAA CREF Investment Management LLC now owns 10,793,640 shares of the company’s stock valued at $898,355,000 after acquiring an additional 2,078,176 shares in the last quarter. Morgan Stanley raised its holdings in shares of Procter & Gamble by 11.3% during the third quarter. Morgan Stanley now owns 17,584,133 shares of the company’s stock valued at $1,463,528,000 after acquiring an additional 1,784,225 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Procter & Gamble by 24.3% during the fourth quarter. California Public Employees Retirement System now owns 8,672,672 shares of the company’s stock valued at $797,192,000 after acquiring an additional 1,698,051 shares in the last quarter. 62.24% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Analyst Recommendations for Procter & Gamble (NYSE:PG)

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