88,120 Colgate-Palmolive Company $CL Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its Colgate-Palmolive stake by 155.7%, purchasing 88,120 additional shares and bringing its holdings to 144,730 shares valued at approximately $12.35 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $98.65, despite several recent target reductions.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53 per share, representing a 2.4% annualized yield.

Farther Finance Advisors LLC raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 155.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,730 shares of the company's stock after buying an additional 88,120 shares during the period. Farther Finance Advisors LLC's holdings in Colgate-Palmolive were worth $12,348,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sapient Capital LLC boosted its stake in shares of Colgate-Palmolive by 240.0% during the 3rd quarter. Sapient Capital LLC now owns 22,129 shares of the company's stock worth $1,888,000 after acquiring an additional 15,620 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 88.1% during the third quarter. CoreCap Advisors LLC now owns 15,147 shares of the company's stock valued at $1,292,000 after purchasing an additional 7,094 shares during the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of Colgate-Palmolive by 67.4% during the third quarter. Atwood & Palmer Inc. now owns 43,853 shares of the company's stock valued at $3,742,000 after purchasing an additional 17,653 shares during the last quarter. YHB Investment Advisors Inc. boosted its position in shares of Colgate-Palmolive by 388.0% in the 3rd quarter. YHB Investment Advisors Inc. now owns 51,377 shares of the company's stock valued at $4,383,000 after purchasing an additional 40,850 shares during the period. Finally, Apella Capital LLC increased its stake in Colgate-Palmolive by 312.2% in the 3rd quarter. Apella Capital LLC now owns 18,033 shares of the company's stock worth $1,539,000 after purchasing an additional 13,658 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, September 21st. Weiss Ratings lowered shares of Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 2nd. UBS Group upped their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.65.

Colgate-Palmolive Trading Up 1.0%

Shares of NYSE CL opened at $88.07 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The business has a 50-day moving average price of $89.16 and a two-hundred day moving average price of $88.77. The firm has a market capitalization of $70.21 billion, a PE ratio of 34.95, a PEG ratio of 4.07 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its 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 company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced 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. 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 dividend payout ratio (DPR) is 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel Wallace sold 161,021 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 the business'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 owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 175,191 shares of company stock valued at $16,110,903 in the last quarter. Company insiders own 0.43% of the company's stock.

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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