Colgate-Palmolive (NYSE:CL) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 3.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,376 shares of the company’s stock after buying an additional 674 shares during the quarter. Bleakley Financial Group LLC’s holdings in Colgate-Palmolive were worth $2,323,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive during the second quarter worth about $25,000. Continuum Advisory LLC increased its position in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Colgate-Palmolive during the first quarter worth about $48,000. Gradient Investments LLC increased its position in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after purchasing an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Colgate-Palmolive during the second quarter worth about $68,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CL shares. Stifel Nicolaus raised their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America raised their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 in the company, valued at $1,439,929.76. The trade was 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 through this hyperlink. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The trade was 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 90 days. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Trading Up 0.4 %

NYSE CL opened at $100.46 on Friday. The firm has a 50 day simple moving average of $103.43 and a 200-day simple moving average of $97.60. 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 one year low of $71.46 and a one year high of $109.30. The firm has a market cap of $82.42 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) 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 company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.99%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Colgate-Palmolive Company Profile

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.