Wells Fargo Sticks to Its Buy Rating for Procter & Gamble (PG)
In a report released on February 20, Christopher Carey from Wells Fargo maintained a Buy rating on Procter & Gamble, with a price target of $177.00. The company’s shares closed yesterday at $160.78.
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According to TipRanks, Carey is a 4-star analyst with an average return of 2.7% and a 52.44% success rate. Carey covers the Consumer Defensive sector, focusing on stocks such as Church & Dwight, Conagra Brands, and Clorox.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Procter & Gamble with a $165.27 average price target, representing a 2.79% upside. In a report released on February 20, Morgan Stanley also maintained a Buy rating on the stock with a $175.00 price target.
Based on Procter & Gamble’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $22.21 billion and a net profit of $4.33 billion. In comparison, last year the company earned a revenue of $21.88 billion and had a net profit of $4.63 billion
Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PG in relation to earlier this year. Earlier this month, Susan Street Whaley, the CLO & Secy of PG sold 1,809.00 shares for a total of $288,445.05.
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