This neutral initiation adds little conviction to PG's story; the stock faces headwinds from falling estimates and a high short ratio. Traders should wait for clearer catalysts — such as the July 27 earnings report — before taking a directional position.
Price Chart
Executive Summary
Bernstein initiated coverage of Procter & Gamble (PG) at Market Perform with a $156 price target, implying 5.2% upside from the current $148.34. The call is below the bullish consensus — 61% of 36 analysts rate PG a Buy (22 Buy/Strong Buy), 36% Hold, and 3% Sell. The consensus mean target is $163.77, median $164, with a high of $186 and low of $145. Bernstein's PT sits 4.7% below the mean. The firm's track record on PG is 51% accuracy on 497 calls with an average 3.3% return, placing it in the middle of covering firms. EPS revisions are strongly negative: 0 upward revisions vs 19 downward for the current fiscal year and next fiscal year over 30 days. Short interest stands at 57.6% of float, and institutional flows show a mixed picture — Charles Schwab doubled its position (+120%) while Norges Bank exited. There are no insider trades to corroborate the analyst signal. Bottom line: a routine neutral initiation from an average-accuracy firm on a stock with deteriorating earnings momentum.
Impact Score
Consensus & Targets
The consensus on PG splits 8 Strong Buy, 14 Buy, 13 Hold, 1 Sell, and 0 Strong Sell — totaling 36 analysts. That is 61% Buy, 36% Hold, and 3% Sell, a clearly bullish tilt. Bernstein's Market Perform (Hold) rating is below the consensus direction.
The mean price target is $163.77, median $164, high $186, and low $145. The current price of $148.34 implies 10.4% upside to the mean. Bernstein's $156 target is 5.2% above current price but 4.7% below the mean, putting it in the lower half of the range.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-06-11 | Bernstein | initiate | Market Perform | $156.00 |
| 2026-04-27 | UBS | maintain | Buy | $172.00 |
| 2026-04-27 | TD Cowen | maintain | Hold | $150.00 |
| 2026-04-27 | Wells Fargo | maintain | Overweight | $164.00 |
| 2026-04-27 | Evercore ISI Group | maintain | In-Line | $162.00 |
| 2026-04-17 | JP Morgan | maintain | Overweight | $162.00 |
| 2026-04-14 | Barclays | maintain | Equal-Weight | $146.00 |
| 2026-04-10 | B of A Securities | maintain | Buy | $167.00 |
| 2026-04-08 | Wells Fargo | maintain | Overweight | $158.00 |
| 2026-04-08 | Piper Sandler | maintain | Neutral | $142.00 |
In the last 30 days, there was 1 upgrade and 0 downgrades for PG. EPS revisions are heavily negative: next quarter (0q) saw 0 up vs 15 down, current year (0y) 0 up vs 19 down, and next year (+1y) 0 up vs 19 down. Estimates are clearly being revised lower across all horizons.
Firm Track Record — Bernstein
Bernstein accuracy: 51% on 497 calls | avg return: 3.3%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Deutsche Bank | 100% | 3/3 | 4.4% | top tier |
| Stifel | 100% | 3/3 | 3% | top tier |
| Barclays | 73% | 8/11 | 0.6% | top tier |
| Jefferies | 67% | 2/3 | 3.4% | top tier |
| JP Morgan | 56% | 5/9 | -0.5% | above average |
| Citigroup | 50% | 1/2 | 1.5% | below average |
| Evercore ISI Group | 50% | 2/4 | -2.1% | below average |
| RBC Capital | 40% | 2/5 | -1.3% | below average |
| UBS | 33% | 1/3 | -1.1% | below average |
| DA Davidson | 29% | 2/7 | -2.6% | below average |
Bernstein has a 51% accuracy rate on 497 calls with an average return of 3.3%. On PG specifically, the best-performing firms are Deutsche Bank and Stifel (100% accuracy on 3 calls each), while B of A Securities and Morgan Stanley have 0% accuracy on 2 calls each. Bernstein's record is average relative to peers covering PG.
Earnings Estimates
Next earnings: Jul 27, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| +1q | $1.97 | $1.93 — $2.07 | $23.0B | ↑1 ↓0 |
| 0y | $6.90 | $6.83 — $7.02 | $87.1B | ↑1 ↓0 |
| +1y | $7.09 | $6.96 — $7.34 | $89.6B | ↑1 ↓0 |
| 0q | $1.42 | $1.37 — $1.46 | $21.4B | ↑0 ↓0 |
Cross-Platform Signals
There are no insider trades on PG. Congressional trades show two small buys from Rep. David Taylor (R) totaling $2K–$30K. Institutional activity is mixed: Charles Schwab Investment Management doubled (+120%) and Capital World Investors added (+68.9%), but Norges Bank exited entirely and Cullen Capital trimmed (-61.1%). Short interest is elevated at 57.6% of float. The analyst's neutral initiation diverges from the bullish institutional inflows but aligns with the downward EPS revisions and high short interest.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 5w ago | DEFA14A | $143.78 $149.03 | ▲ +3.65% | ▲ +3.14% | $144.60 (+0.57%) |
Aug 27, 2026 5w ago | Insider Cluster | $143.14 $145.78 | ▲ +1.84% | ▲ +1.95% | $144.60 (+1.02%) |
Aug 24, 2026 5w ago | Insider Cluster | $146.60 $148.22 | ▲ +1.10% | ▼ −0.21% | $144.60 (−1.37%) |
Aug 24, 2026 5w ago | Insider Cluster | $146.60 $148.22 | ▲ +1.10% | ▼ −0.21% | $144.60 (−1.37%) |
Aug 24, 2026 5w ago | Insider Cluster | $146.60 $148.22 | ▲ +1.10% | ▼ −0.21% | $144.60 (−1.37%) |
Aug 7, 2026 7w ago | ANALYST-DOWNGRADE | $145.64 $146.44 | ▼ −0.55% | ▼ −0.95% | $144.60 (+0.72%) |
Jul 30, 2026 9w ago | ANALYST-DOWNGRADE | $143.96 $143.11 | ▲ +0.59% | ▲ +4.56% | $144.60 (−0.44%) |
Jul 29, 2026 9w ago | 8-K | $146.10 $145.00 | ▼ −0.76% | ▼ −5.78% | $144.60 (−1.03%) |
Jul 29, 2026 9w ago | 8-K | $146.10 $145.00 | ▲ +0.76% | ▲ +5.78% | $144.60 (+1.03%) |
Jun 12, 2026 15w ago | ANALYST-UPGRADE | $149.61 $147.04 | ▼ −1.72% | ▼ −3.50% | $144.60 (−3.35%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access