Neville Rodie & Shaw Inc. Grows Stock Holdings in Colgate-Palmolive Company $CL

Neville Rodie & Shaw Inc. raised its position in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 240.2% in the third quarter, HoldingsChannel reports. The fund owned 35,720 shares of the company’s stock after acquiring an additional 25,220 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Colgate-Palmolive were worth $3,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. grew its holdings in Colgate-Palmolive by 6,648.2% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 250,829 shares of the company’s stock valued at $21,401,000 after buying an additional 247,112 shares in the last quarter. Rockland Trust Co. boosted its holdings in Colgate-Palmolive by 0.6% in the 3rd quarter. Rockland Trust Co. now owns 178,232 shares of the company’s stock valued at $15,207,000 after purchasing an additional 1,135 shares during the period. Violich Capital Management Inc. grew its position in shares of Colgate-Palmolive by 21.1% during the 3rd quarter. Violich Capital Management Inc. now owns 5,960 shares of the company’s stock worth $509,000 after purchasing an additional 1,040 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Colgate-Palmolive by 2,373.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 121,329 shares of the company’s stock valued at $10,352,000 after buying an additional 116,423 shares in the last quarter. Finally, First Financial Bank Trust Division boosted its stake in shares of Colgate-Palmolive by 36.4% in the third quarter. First Financial Bank Trust Division now owns 10,446 shares of the company’s stock valued at $891,000 after buying an additional 2,786 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen upped their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday. Citigroup increased their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.65.

Read Our Latest Stock Analysis on Colgate-Palmolive

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded up $1.27 during mid-day trading on Monday, reaching $85.53. The company had a trading volume of 2,034,114 shares, compared to its average volume of 5,710,107. The business has a fifty day simple moving average of $89.59 and a 200 day simple moving average of $88.77. The company has a market cap of $68.18 billion, a P/E ratio of 33.96, a P/E/G ratio of 3.93 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Transactions at Colgate-Palmolive

In other news, Director John Cahill sold 4,170 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company’s stock.

About Colgate-Palmolive

(Free Report)

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, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.

Further Reading

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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