Colgate-Palmolive Company $CL Position Increased by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel increased its Colgate-Palmolive stake by 3,335.2% in the third quarter, bringing its holdings to 97,904 shares valued at approximately $8.35 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates by $0.04, 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 per share, equivalent to an annualized $2.12 dividend and a 2.3% yield. Insiders sold approximately $16.1 million of stock over the past three months.

ZWJ Investment Counsel Inc. increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3,335.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,904 shares of the company's stock after purchasing an additional 95,054 shares during the period. ZWJ Investment Counsel Inc.'s holdings in Colgate-Palmolive were worth $8,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. boosted its stake in shares of Colgate-Palmolive by 112.5% during the third quarter. Mather Group LLC. now owns 26,990 shares of the company's stock worth $2,303,000 after buying an additional 14,287 shares during the period. Hudock Inc. increased its position in Colgate-Palmolive by 166.4% in the 3rd quarter. Hudock Inc. now owns 7,051 shares of the company's stock valued at $602,000 after acquiring an additional 4,404 shares during the period. First Pacific Financial increased its position in Colgate-Palmolive by 660.3% in the 3rd quarter. First Pacific Financial now owns 3,558 shares of the company's stock valued at $304,000 after acquiring an additional 3,090 shares during the period. Reliant Investment Management LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $1,942,000. Finally, Godsey & Gibb Inc. purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at approximately $5,777,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Trading Up 3.2%

Shares of Colgate-Palmolive stock opened at $92.80 on Thursday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company's 50-day simple moving average is $89.04 and its 200-day simple moving average is $88.93. The firm has a market cap 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.

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

Colgate-Palmolive Dividend Announcement

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 annualized dividend and a yield of 2.3%. Colgate-Palmolive's payout ratio is presently 84.13%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. 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. TD Cowen lifted their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Raymond James Financial boosted their target price on Colgate-Palmolive from $100.00 to $102.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Morgan Stanley restated 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. Finally, Wells Fargo & Company decreased their price target on Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Monday, October 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average target price 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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