Colgate-Palmolive Company $CL Shares Newly Bought by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 9,968 shares of the company’s stock, valued at approximately $850,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. State Street Corp increased its stake in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares during the period. Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. First Eagle Investment Management LLC increased its position in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after purchasing an additional 88,917 shares during the last quarter. Finally, Amundi raised its holdings in Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after buying an additional 1,033,918 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CL shares. Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. UBS Group increased their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Piper Sandler dropped their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, September 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.65.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director John Cahill sold 4,170 shares of the company’s stock in a transaction 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 sale, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noel Wallace sold 161,021 shares of the firm’s stock in a transaction 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 transaction, 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 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. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Up 0.0%

CL traded up $0.01 on Wednesday, reaching $87.26. 3,773,453 shares of the company traded hands, compared to its average volume of 5,712,208. The company has a market cap of $69.56 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 4.02 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 Company has a one year low of $74.54 and a one year high of $99.33. The firm has a fifty day simple moving average of $89.36 and a two-hundred day simple moving average of $88.74.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 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 business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s payout ratio 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, 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.