21,427 Colgate-Palmolive Company $CL Shares Bought by Columbus Macro LLC

Key Points

• Columbus Macro LLC increased its Colgate-Palmolive stake by 18.2% in the third quarter, buying 21,427 shares to hold 139,078 shares valued at approximately $11.9 million.
• Colgate-Palmolive shares rose 3.2% to $92.80, while the company reported quarterly earnings of $0.99 per share, exceeding analyst expectations, and revenue increased 4.9% year over year.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 dividend and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.11.

Columbus Macro LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,078 shares of the company's stock after acquiring an additional 21,427 shares during the period. Colgate-Palmolive accounts for about 1.1% of Columbus Macro LLC's investment portfolio, making the stock its 19th largest position. Columbus Macro LLC's holdings in Colgate-Palmolive were worth $11,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Corient Private Wealth LP raised its stake in shares of Colgate-Palmolive by 29.0% in the 2nd quarter. Corient Private Wealth LP now owns 639,604 shares of the company's stock valued at $58,639,000 after acquiring an additional 143,812 shares during the period. Bank of America Corp DE purchased a new stake in Colgate-Palmolive during the 2nd quarter worth $567,483,000. Brandywine Financial Group boosted its position in Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company's stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. SEB Asset Management AB acquired a new stake in Colgate-Palmolive in the 1st quarter valued at $91,149,000. Finally, Robinhood Asset Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at $11,554,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Cahill sold 4,170 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares of the company's stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 in the last ninety days. Insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Up 3.2%

Shares of NYSE CL traded up $2.85 during trading on Wednesday, reaching $92.80. 5,384,099 shares of the stock were exchanged, compared to its average volume of 5,672,228. The company has a market capitalization of $73.98 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. The business's 50-day moving average price is $89.05 and its 200 day moving average price is $88.87. 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 Company has a twelve month low of $74.54 and a twelve month high of $99.33.

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

Colgate-Palmolive Dividend Announcement

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 issued a $0.53 dividend. 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 currently 84.13%.

Analysts Set New Price Targets

Several research analysts have commented on CL shares. Jefferies Financial Group reissued a "hold" rating and issued a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. BNP Paribas Exane decreased their target price on Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating for the company in a research report on Monday, September 28th. Evercore upped their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Finally, UBS Group raised their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.11.

Colgate-Palmolive Company Profile

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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