Canandaigua National Bank & Trust Co. Purchases New Stake in Procter & Gamble Company (The) $PG

Canandaigua National Bank & Trust Co. acquired a new position in Procter & Gamble Company (The) (NYSE:PG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 75,791 shares of the company’s stock, valued at approximately $11,114,000. Procter & Gamble accounts for 0.9% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Carson Advisory Inc. grew its position in shares of Procter & Gamble by 0.5% during the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company’s stock worth $1,738,000 after buying an additional 65 shares during the period. Trilogy Capital Inc. raised its stake in shares of Procter & Gamble by 1.1% during the fourth quarter. Trilogy Capital Inc. now owns 6,289 shares of the company’s stock worth $901,000 after buying an additional 67 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Procter & Gamble by 1.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company’s stock valued at $549,000 after buying an additional 67 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its stake in Procter & Gamble by 2.7% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 2,623 shares of the company’s stock valued at $376,000 after acquiring an additional 68 shares during the last quarter. Finally, Grant Street Asset Management Inc. grew its holdings in Procter & Gamble by 2.7% during the 4th quarter. Grant Street Asset Management Inc. now owns 2,627 shares of the company’s stock worth $376,000 after acquiring an additional 69 shares during the period. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 2.1%

Shares of NYSE:PG opened at $147.99 on Wednesday. The firm has a market cap of $344.61 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 4.45 and a beta of 0.39. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25. The company’s fifty day simple moving average is $147.81 and its 200 day simple moving average is $148.97. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.42.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.25%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, research analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be issued a dividend of $1.0885 per share. The ex-dividend date is Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.9%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.71%.

Key Headlines Impacting Procter & Gamble

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: Strategic acquisition strengthens growth prospects. Thorne will complement P&G’s existing health brands, including Metamucil, Align Probiotic and New Chapter, while adding exposure to the premium wellness market. The deal is expected to close later this year. L Catterton Announces Sale of Thorne to The Procter & Gamble Company for $3.8 Billion
• Positive Sentiment: Management is emphasizing healthcare growth. CEO Shailesh Jejurikar said the Thorne purchase is intended to grow P&G’s health business, and reports characterized the asset as a strong strategic fit. Investors may view the move as a way to diversify beyond slower-growing household and personal-care categories. Procter & Gamble will acquire supplements brand Thorne
• Positive Sentiment: Input-cost pressure may be easing. Coverage points to cooling commodity and other input pressures, which could provide some relief to margins if the trend continues. Why Is Procter & Gamble in Focus as Input Pressures Cool?

Wall Street Analyst Weigh In

Several brokerages have commented on PG. Sanford C. Bernstein began coverage on shares of Procter & Gamble in a research report on Thursday, June 11th. They set a “market perform” rating and a $156.00 target price for the company. Rothschild & Co Redburn decreased their price objective on Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Morgan Stanley dropped their price objective on Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $163.00 target price on shares of Procter & Gamble in a report on Monday, April 27th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.52.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.