7,984 Shares in Colgate-Palmolive Company $CL Acquired by Equitable Trust Co.

Equitable Trust Co. bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,984 shares of the company’s stock, valued at approximately $680,000.

A number of other large investors also recently modified their holdings of the company. Mason & Associates Inc grew its holdings in shares of Colgate-Palmolive by 1.7% during the first quarter. Mason & Associates Inc now owns 8,493 shares of the company’s stock worth $728,000 after purchasing an additional 143 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in Colgate-Palmolive by 0.8% in the 1st quarter. Griffin Asset Management Inc. now owns 16,377 shares of the company’s stock valued at $1,396,000 after buying an additional 134 shares during the last quarter. Main Street Research LLC boosted its position in Colgate-Palmolive by 13.1% during the 1st quarter. Main Street Research LLC now owns 7,484 shares of the company’s stock worth $638,000 after buying an additional 866 shares during the period. First Horizon Corp boosted its position in Colgate-Palmolive by 231.9% during the 1st quarter. First Horizon Corp now owns 45,200 shares of the company’s stock worth $3,852,000 after buying an additional 31,583 shares during the period. Finally, Mosaic Family Wealth Partners LLC grew its holdings in Colgate-Palmolive by 67.4% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 4,290 shares of the company’s stock worth $366,000 after acquiring an additional 1,728 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 1.4%

CL stock traded up $1.30 during midday trading on Friday, hitting $92.31. The stock had a trading volume of 4,257,117 shares, compared to its average volume of 4,923,956. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market cap of $73.86 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 4.86 and a beta of 0.33. The business has a fifty day moving average price of $89.91 and a two-hundred day moving average price of $88.10. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 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 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price for the company. Piper Sandler lifted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.