116,423 Colgate-Palmolive Company $CL Shares Bought by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its Colgate-Palmolive stake by 2,373.1% in the third quarter, purchasing 116,423 additional shares and bringing its holdings to 121,329 shares valued at approximately $10.35 million.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding analysts’ $0.95 estimate, while revenue rose 4.9% year over year to $5.36 billion. The company declared a quarterly dividend of $0.53 per share, representing a 2.5% yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $98.94, compared with the stock’s reported opening price of $84.22.

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2,373.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,329 shares of the company's stock after buying an additional 116,423 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Colgate-Palmolive were worth $10,352,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CL. State Street Corp increased its stake in Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after acquiring an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its holdings in Colgate-Palmolive by 8.1% during 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 purchasing an additional 1,010,872 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after buying an additional 88,917 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Colgate-Palmolive by 17.4% during the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company's stock worth $565,722,000 after buying an additional 986,063 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.1%

CL stock opened at $84.22 on Monday. The stock has a market cap of $67.13 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 3.93 and a beta of 0.33. The company has a fifty day moving average price of $89.59 and a two-hundred day moving average price of $88.77. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

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

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders 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 equities research analysts recently issued reports on CL shares. Citigroup increased their target price 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. Sanford C. Bernstein reiterated a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. TD Cowen boosted their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Weiss Ratings cut Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.94.

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.

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