Colgate-Palmolive Company $CL Position Raised by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates increased its Colgate-Palmolive position by 328% in the third quarter, bringing its holdings to 76,910 shares valued at approximately $6.56 million. Institutional investors collectively own 80.41% of CL stock.
• 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, equivalent to an annualized $2.12 dividend and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.65.

Douglas Lane & Associates LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 328.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,910 shares of the company's stock after purchasing an additional 58,942 shares during the period. Douglas Lane & Associates LLC's holdings in Colgate-Palmolive were worth $6,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. State Street Corp increased its holdings in shares of Colgate-Palmolive by 97.4% during 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after acquiring an additional 88,917 shares in the last quarter. Amundi lifted its position in Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after acquiring an additional 1,033,918 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at $567,483,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

CL stock traded up $0.15 during mid-day trading on Friday, hitting $88.25. The company had a trading volume of 807,549 shares, compared to its average volume of 5,678,305. The company has a market capitalization of $70.35 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 4.07 and a beta of 0.33. The company has a 50-day moving average price of $89.16 and a 200 day moving average price of $88.77. 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 12-month low of $74.54 and a 12-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 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 business had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter last year, the business posted $0.92 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CL shares. UBS Group increased their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Finally, Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.65.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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 of the company's stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Cahill sold 4,170 shares of the company's 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 transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company's stock.

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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