McKinley Carter Wealth Services Inc. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 240.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,799 shares of the company’s stock after purchasing an additional 6,919 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Colgate-Palmolive were worth $836,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its stake in shares of Colgate-Palmolive by 144.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 985,758 shares of the company’s stock worth $84,105,000 after buying an additional 582,523 shares during the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Colgate-Palmolive by 89.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,887 shares of the company’s stock valued at $417,000 after acquiring an additional 2,301 shares in the last quarter. KFG Wealth Management LLC increased its position in shares of Colgate-Palmolive by 3.0% in the third quarter. KFG Wealth Management LLC now owns 9,061 shares of the company’s stock valued at $773,000 after acquiring an additional 267 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in shares of Colgate-Palmolive by 360.9% in the third quarter. Cyndeo Wealth Partners LLC now owns 56,783 shares of the company’s stock valued at $4,845,000 after acquiring an additional 44,464 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its position in shares of Colgate-Palmolive by 39.8% in the third quarter. Hanson & Doremus Investment Management now owns 9,256 shares of the company’s stock valued at $790,000 after acquiring an additional 2,637 shares during the last quarter. 80.41% of the stock is owned by institutional investors.
Colgate-Palmolive Stock Performance
Shares of CL stock opened at $94.02 on Friday. The company has a fifty day moving average price of $89.05 and a two-hundred day moving average price of $89.02. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a market cap of $74.95 billion, a P/E ratio of 37.31, a P/E/G ratio of 4.50 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.
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 the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The company 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 $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.
Analyst Upgrades and Downgrades
CL has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Barclays raised their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Weiss Ratings lowered Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price target (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Bank of America dropped 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. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.95.
Read Our Latest Analysis on Colgate-Palmolive
Insider Buying and Selling
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. 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 90 days, insiders sold 175,191 shares of company stock worth $16,110,903. Company insiders own 0.43% of the company’s stock.
Colgate-Palmolive 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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