Canandaigua National Bank & Trust Co. Lowers Holdings in Procter & Gamble Company (The) (NYSE:PG)

Canandaigua National Bank & Trust Co. lowered its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,793 shares of the company's stock after selling 1,740 shares during the quarter. Procter & Gamble makes up about 1.4% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 13th biggest holding. Canandaigua National Bank & Trust Co.'s holdings in Procter & Gamble were worth $13,598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PG. Cladis Investment Advisory LLC raised its holdings in Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock worth $806,000 after purchasing an additional 236 shares in the last quarter. FAS Wealth Partners Inc. raised its holdings in Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock worth $4,642,000 after purchasing an additional 549 shares in the last quarter. Berkshire Asset Management LLC PA raised its holdings in Procter & Gamble by 0.9% during the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock worth $38,833,000 after purchasing an additional 2,179 shares in the last quarter. Natural Investments LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $2,121,000. Finally, Yoffe Investment Management LLC purchased a new stake in Procter & Gamble in the 4th quarter valued at $1,874,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore ISI reiterated an "outperform" rating and issued a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Raymond James Financial reduced their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Procter & Gamble Stock Performance

NYSE:PG opened at $160.00 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The stock has a market cap of $375.11 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 4.71 and a beta of 0.43. The firm's fifty day simple moving average is $162.44 and its 200-day simple moving average is $165.58.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. During the same period in the prior year, the company posted $1.52 EPS. The business's revenue for the quarter was down 2.1% on a year-over-year basis. Analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.64%. Procter & Gamble's payout ratio is currently 67.14%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Procter & Gamble Company Profile

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

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