Vestor Capital LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 68.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,988 shares of the company’s stock after selling 10,911 shares during the period. Vestor Capital LLC’s holdings in Colgate-Palmolive were worth $419,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in CL. State Street Corp raised its stake in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the period. Bank of New York Mellon Corp lifted its holdings in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new position in Colgate-Palmolive in the 2nd quarter worth about $567,483,000. Envestnet Asset Management Inc. boosted its stake in Colgate-Palmolive by 266.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock worth $380,136,000 after purchasing an additional 3,014,860 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Colgate-Palmolive by 151.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after buying an additional 2,575,530 shares in the last quarter. 80.41% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CL has been the topic of several analyst reports. TD Cowen upped their price target on Colgate-Palmolive from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, November 2nd. BNP Paribas Exane restated an “outperform” rating and issued a $108.00 price objective (up from $97.00) on shares of Colgate-Palmolive in a research report on Monday, November 2nd. Bank of America boosted their price objective on shares of Colgate-Palmolive from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. UBS Group upped their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Finally, Royal Bank Of Canada upped their price target on shares of Colgate-Palmolive from $104.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, November 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $101.22.
Get Our Latest Stock Report on CL
Insider Transactions at Colgate-Palmolive
In related news, CEO Noel Wallace sold 20,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $100.26, for a total value of $2,005,200.00. Following the completion of the transaction, the chief executive officer directly owned 359,700 shares in the company, valued at approximately $36,063,522. The trade was a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Hazlin sold 23,376 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total value of $2,317,730.40. Following the completion of the transaction, the insider directly owned 27,021 shares of the company’s stock, valued at $2,679,132.15. This represents a 46.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 73,314 shares of company stock valued at $7,212,109. Insiders own 0.43% of the company’s stock.
Colgate-Palmolive Stock Up 1.4%
CL stock opened at $97.90 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.30 and a debt-to-equity ratio of 11.23. The company’s 50 day moving average is $90.26 and its 200 day moving average is $90.04. The stock has a market cap of $77.82 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 4.48 and a beta of 0.31. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $101.18.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the business posted $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive Company will post 3.92 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 83.14%.
Colgate-Palmolive Company Profile
Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.
The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.
Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.
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