Canandaigua National Trust Co of Florida Has $786,000 Stake in The Procter & Gamble Company (NYSE:PG)

Canandaigua National Trust Co of Florida grew its stake in The Procter & Gamble Company (NYSE:PG) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,688 shares of the company’s stock after purchasing an additional 342 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Procter & Gamble were worth $786,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. FMR LLC lifted its holdings in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after acquiring an additional 689,282 shares during the period. Legal & General Group Plc boosted its position in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after purchasing an additional 122,190 shares during the last quarter. Franklin Resources Inc. grew its stake in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Procter & Gamble by 4.7% during the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,439 shares of company stock valued at $13,317,460. Insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE PG traded down $4.52 during mid-day trading on Monday, reaching $160.61. 8,538,484 shares of the company were exchanged, compared to its average volume of 5,385,503. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week high of $180.43. The company’s 50 day moving average price is $170.21 and its 200 day moving average price is $169.85. The stock has a market capitalization of $378.24 billion, a PE ratio of 27.69, a PEG ratio of 3.70 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PG. DA Davidson restated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Friday, December 27th. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI upped their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.45.

About Procter & Gamble

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.