Canandaigua National Bank & Trust Co. Sells 1,295 Shares of The Procter & Gamble Company (NYSE:PG)

Canandaigua National Bank & Trust Co. reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,533 shares of the company’s stock after selling 1,295 shares during the period. Procter & Gamble makes up about 1.3% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 13th largest position. Canandaigua National Bank & Trust Co.’s holdings in Procter & Gamble were worth $13,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter worth about $33,000. Quest Partners LLC bought a new position in Procter & Gamble in the 2nd quarter valued at $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble in the second quarter worth $44,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of a number of research analyst reports. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. DA Davidson reissued a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Friday, December 27th. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.45.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This represents a 12.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the sale, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. The trade was a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,439 shares of company stock worth $13,317,460. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG traded down $4.52 during mid-day trading on Monday, hitting $160.61. 8,538,484 shares of the stock were exchanged, compared to its average volume of 5,385,503. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The firm’s 50-day simple moving average is $170.21 and its 200 day simple moving average is $169.85. The Procter & Gamble Company has a fifty-two week low of $146.28 and a fifty-two week high of $180.43. The stock has a market capitalization of $378.24 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.31%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.