Glenview Trust Co Makes New $755,000 Investment in Colgate-Palmolive Company $CL

Glenview Trust Co acquired a new stake in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,239 shares of the company’s stock, valued at approximately $755,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Colgate-Palmolive in the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp increased its holdings in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $567,483,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Colgate-Palmolive during the fourth quarter valued at $236,682,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CL shares. Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. UBS Group raised their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Trading Down 0.2%

Shares of Colgate-Palmolive stock opened at $90.75 on Friday. 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 Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm has a market capitalization of $72.34 billion, a PE ratio of 36.01, a P/E/G ratio of 4.25 and a beta of 0.33. The firm’s 50-day moving average price is $92.02 and its 200 day moving average price is $90.06.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

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.