52,020 Colgate-Palmolive Company $CL Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Colgate-Palmolive stake by 481.3% in the third quarter, buying 52,020 shares and bringing its holdings to 62,829 shares valued at approximately $5.36 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.11.
• The company declared a quarterly dividend of $0.53, equivalent to an annualized $2.12 payout and a 2.4% yield. Meanwhile, insiders sold approximately $16.1 million worth of shares over the past 90 days.

NorthCrest Asset Manangement LLC grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 481.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,829 shares of the company's stock after purchasing an additional 52,020 shares during the period. NorthCrest Asset Manangement LLC's holdings in Colgate-Palmolive were worth $5,361,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company's stock worth $8,635,889,000 after buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its position in Colgate-Palmolive by 8.1% in the 2nd 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 during the period. First Eagle Investment Management LLC boosted its position in 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 valued at $752,298,000 after buying an additional 88,917 shares during the period. Bank of America Corp DE grew its stake in shares of Colgate-Palmolive by 17.4% in the first quarter. Bank of America Corp DE now owns 6,637,597 shares of the company's stock worth $565,722,000 after acquiring an additional 986,063 shares in the last quarter. Finally, Amundi grew its stake in shares of Colgate-Palmolive by 19.9% in 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 in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company'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 completion of the sale, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

NYSE CL opened at $89.97 on Wednesday. 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 52-week low of $74.54 and a 52-week high of $99.33. The business's 50-day moving average price is $89.05 and its 200 day moving average price is $88.87. The firm has a market cap of $71.72 billion, a P/E ratio of 35.70, a P/E/G ratio of 4.30 and a beta of 0.33.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive's payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $101.00 price objective (up from $99.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Bank of America dropped their price objective on Colgate-Palmolive from $102.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, October 9th. UBS Group boosted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $104.00 price target (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.11.

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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