TD Cowen Begins Coverage on Procter & Gamble (NYSE:PG)

TD Cowen initiated coverage on shares of Procter & Gamble (NYSE:PG) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $189.00 price objective on the stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Procter & Gamble from $170.00 to $181.00 and gave the company an overweight rating in a research report on Monday. Evercore ISI upped their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an outperform rating in a research report on Thursday, July 18th. StockNews.com downgraded shares of Procter & Gamble from a buy rating to a hold rating in a research report on Tuesday, July 16th. Argus upped their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group raised their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a buy rating in a research note on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $174.29.

Procter & Gamble Stock Performance

Shares of PG stock opened at $166.95 on Tuesday. The company has a market cap of $394.03 billion, a P/E ratio of 27.28, a PEG ratio of 3.15 and a beta of 0.41. The business has a 50 day moving average of $166.38 and a two-hundred day moving average of $161.36. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $170.92. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, July 19th. Procter & Gamble’s payout ratio is 65.85%.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gary A. Coombe sold 21,388 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the sale, the chief executive officer now owns 36,854 shares in the company, valued at approximately $6,080,172.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,320 shares of company stock valued at $20,696,223. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Procter & Gamble

Several hedge funds have recently bought and sold shares of PG. HighPoint Advisor Group LLC purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $17,696,000. Campbell Wealth Management increased its stake in shares of Procter & Gamble by 13.1% in the fourth quarter. Campbell Wealth Management now owns 1,988 shares of the company’s stock worth $291,000 after acquiring an additional 231 shares during the last quarter. Herold Advisors Inc. raised its holdings in shares of Procter & Gamble by 2.2% during the fourth quarter. Herold Advisors Inc. now owns 26,592 shares of the company’s stock worth $3,897,000 after acquiring an additional 581 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Procter & Gamble by 29.0% during the first quarter. V Square Quantitative Management LLC now owns 43,202 shares of the company’s stock valued at $7,010,000 after purchasing an additional 9,716 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in Procter & Gamble by 15.7% in the fourth quarter. Metis Global Partners LLC now owns 115,039 shares of the company’s stock valued at $16,858,000 after purchasing an additional 15,599 shares in the last quarter. 65.77% 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 worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.