Colgate-Palmolive Company $CL Holdings Boosted by Columbus Macro LLC

Columbus Macro LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 18.2% in the third quarter, Holdings Channel reports. The institutional investor owned 139,078 shares of the company’s stock after buying an additional 21,427 shares during the quarter. Colgate-Palmolive accounts for approximately 1.1% of Columbus Macro LLC’s portfolio, making the stock its 19th biggest position. Columbus Macro LLC’s holdings in Colgate-Palmolive were worth $11,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CL. Corient Private Wealth LP grew its holdings in Colgate-Palmolive by 29.0% during the 2nd quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock worth $58,639,000 after acquiring an additional 143,812 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $567,483,000. Brandywine Financial Group raised its stake in shares of Colgate-Palmolive by 35,612.3% in the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after purchasing an additional 72,649 shares in the last quarter. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $91,149,000. Finally, Robinhood Asset Management LLC acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $11,554,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CL shares. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. UBS Group upped their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.11.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 over the last quarter. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

CL stock traded up $2.85 during trading on Wednesday, hitting $92.80. 5,384,099 shares of the company’s stock traded hands, compared to its average volume of 5,672,228. The stock has a market capitalization of $73.98 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a fifty day moving average price of $89.05 and a two-hundred day moving average price of $88.87. 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) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

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, 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.