Colgate-Palmolive (NYSE:CL) Stake Boosted by Great Waters Wealth Management

Great Waters Wealth Management increased its position in shares of Colgate-Palmolive (NYSE:CL) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,669 shares of the company’s stock after purchasing an additional 117 shares during the quarter. Great Waters Wealth Management’s holdings in Colgate-Palmolive were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Colgate-Palmolive by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock worth $6,368,378,000 after purchasing an additional 416,853 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Legal & General Group Plc lifted its stake in Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after buying an additional 61,413 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its stake in Colgate-Palmolive by 4.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after buying an additional 278,150 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CL. Evercore ISI raised their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Sanford C. Bernstein raised their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. UBS Group raised their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $104.74.

Colgate-Palmolive Stock Down 0.9 %

NYSE CL traded down $0.93 during trading on Friday, reaching $99.04. 6,030,553 shares of the company’s stock were exchanged, compared to its average volume of 4,348,780. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. The firm has a market capitalization of $81.26 billion, a PE ratio of 31.34, a P/E/G ratio of 3.62 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The company’s fifty day simple moving average is $103.65 and its 200-day simple moving average is $96.76.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.02%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Insider Buying and Selling

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by insiders.

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.