Commonwealth Financial Services LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Commonwealth Financial Services LLC raised its holdings in Colgate-Palmolive (NYSE:CL) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,598 shares of the company’s stock after purchasing an additional 285 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Colgate-Palmolive were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $25,000. Continuum Advisory LLC lifted its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $48,000. Gradient Investments LLC lifted its position in shares of Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $68,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CL. TD Cowen lifted their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Sanford C. Bernstein lifted their price objective on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler began coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Insider Activity

In other news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.1 %

Colgate-Palmolive stock traded down $0.06 during trading on Thursday, reaching $98.92. 477,704 shares of the company’s stock were exchanged, compared to its average volume of 4,309,197. The company’s 50-day moving average is $103.31 and its two-hundred day moving average is $97.84. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a 52-week low of $71.46 and a 52-week high of $109.30. The firm has a market cap of $81.16 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.