Crossmark Global Holdings Inc. lowered its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,819 shares of the company’s stock after selling 14,889 shares during the period. Crossmark Global Holdings Inc.’s holdings in Colgate-Palmolive were worth $11,247,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sawyer & Company Inc bought a new position in Colgate-Palmolive in the third quarter worth approximately $678,000. Sowell Financial Services LLC grew its position in shares of Colgate-Palmolive by 2.1% during the 3rd quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock valued at $490,000 after acquiring an additional 119 shares during the period. Capstone Capital Management Ltd increased its stake in shares of Colgate-Palmolive by 32.6% in the 3rd quarter. Capstone Capital Management Ltd now owns 11,599 shares of the company’s stock worth $990,000 after purchasing an additional 2,850 shares in the last quarter. Cushing Capital Partners LLC increased its stake in shares of Colgate-Palmolive by 8.5% in the 3rd quarter. Cushing Capital Partners LLC now owns 3,778 shares of the company’s stock worth $322,000 after purchasing an additional 296 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Colgate-Palmolive by 0.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 162,887 shares of the company’s stock worth $13,898,000 after purchasing an additional 1,115 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on CL shares. Evercore boosted their price target on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Weiss Ratings cut Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Bank of America decreased their price objective on Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. BNP Paribas Exane lowered their price objective on Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Finally, TD Cowen boosted their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $98.00.
View Our Latest Report on Colgate-Palmolive
Insider Buying and Selling
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company’s stock.
Colgate-Palmolive Price Performance
NYSE:CL opened at $97.44 on Friday. The business’s 50-day simple moving average is $89.22 and its two-hundred day simple moving average is $89.31. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market cap of $77.68 billion, a PE ratio of 38.67, a P/E/G ratio of 4.52 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.
The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.
Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.
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