10,789 Colgate-Palmolive Company $CL Shares Purchased by Aull & Monroe Investment Management Corp

Key Points

• Aull & Monroe Investment Management increased its Colgate-Palmolive position by 54.4% in the third quarter, purchasing 10,789 shares and bringing its total holdings to 30,630 shares valued at approximately $2.61 million.
• Institutional investors own 80.41% of Colgate-Palmolive, while insiders sold roughly 175,191 shares worth $16.1 million over the past quarter.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $97.95; the company also reported better-than-expected quarterly EPS of $0.99 and declared a quarterly dividend of $0.53 per share.

Aull & Monroe Investment Management Corp boosted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 54.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,630 shares of the company's stock after buying an additional 10,789 shares during the period. Colgate-Palmolive makes up about 0.9% of Aull & Monroe Investment Management Corp's holdings, making the stock its 29th biggest position. Aull & Monroe Investment Management Corp's holdings in Colgate-Palmolive were worth $2,613,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock valued at $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after acquiring an additional 88,917 shares during the period. Amundi grew its holdings in Colgate-Palmolive by 19.9% during the second quarter. Amundi now owns 6,218,257 shares of the company's stock worth $570,090,000 after acquiring an additional 1,033,918 shares during the period. Finally, Bank of America Corp DE purchased a new position in Colgate-Palmolive in the second quarter worth $567,483,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CL. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. TD Cowen upped their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an "overweight" rating and set a $104.00 price target (up from $100.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Raymond James Financial increased their price target on shares of Colgate-Palmolive from $100.00 to $102.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, September 21st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $97.95.

Colgate-Palmolive Trading Up 1.5%

Shares of CL stock opened at $94.02 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The stock has a market cap of $74.95 billion, a P/E ratio of 37.31, a P/E/G ratio of 4.50 and a beta of 0.33. The business has a fifty day simple moving average of $89.05 and a 200-day simple moving average of $89.02. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive's payout ratio is presently 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.