Colgate-Palmolive Company $CL Shares Bought by Legacy Private Trust Co.

Key Points

• Legacy Private Trust Co. increased its Colgate-Palmolive stake by 426.7% in the third quarter, while institutional investors and hedge funds collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $98.65, despite some recent target reductions and a downgrade to “Hold.”
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding 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, yielding about 2.4% annually.

Legacy Private Trust Co. grew its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 426.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,870 shares of the company's stock after acquiring an additional 12,047 shares during the period. Legacy Private Trust Co.'s holdings in Colgate-Palmolive were worth $1,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC grew its holdings in Colgate-Palmolive by 61.8% during the third quarter. Ridgewood Investments LLC now owns 8,940 shares of the company's stock worth $763,000 after acquiring an additional 3,416 shares during the period. Neville Rodie & Shaw Inc. boosted its position in shares of Colgate-Palmolive by 240.2% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 35,720 shares of the company's stock worth $3,048,000 after purchasing an additional 25,220 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 6,648.2% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 250,829 shares of the company's stock worth $21,401,000 after purchasing an additional 247,112 shares during the period. Rockland Trust Co. increased its holdings in shares of Colgate-Palmolive by 0.6% in the 3rd quarter. Rockland Trust Co. now owns 178,232 shares of the company's stock valued at $15,207,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Violich Capital Management Inc. lifted its stake in shares of Colgate-Palmolive by 21.1% in the third quarter. Violich Capital Management Inc. now owns 5,960 shares of the company's stock valued at $509,000 after purchasing an additional 1,040 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CL shares. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Weiss Ratings lowered Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. UBS Group lifted their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company decreased their target price on Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.65.

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 transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director owned 28,373 shares of the company's stock, 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 ninety days, insiders have sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Trading Up 1.2%

Shares of CL opened at $87.23 on Wednesday. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock has a market cap of $69.54 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 4.02 and a beta of 0.33. The firm has a 50 day simple moving average of $89.36 and a 200-day simple moving average of $88.74.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm earned $0.92 EPS. Colgate-Palmolive's quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Colgate-Palmolive 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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