Colgate-Palmolive Company $CL Shares Purchased by Mystic Asset Management Inc.

Key Points

• Mystic Asset Management increased its Colgate-Palmolive stake by 65.2% in the third quarter, bringing its holdings to 40,533 shares valued at approximately $3.46 million. Institutional investors and hedge funds own 80.41% of the company.
• Analysts maintain a generally positive view, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and a $97.95 price target. Colgate-Palmolive recently exceeded quarterly earnings expectations, reporting $0.99 EPS versus the $0.95 consensus estimate.
• Shares recently traded at $92.56, while the company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 dividend and a 2.3% yield. Recent insider sales included significant transactions by the CEO and a director.

Mystic Asset Management Inc. increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 65.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,533 shares of the company's stock after purchasing an additional 15,998 shares during the quarter. Mystic Asset Management Inc.'s holdings in Colgate-Palmolive were worth $3,458,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ninety One UK Ltd raised its position in shares of Colgate-Palmolive by 13.1% in the third quarter. Ninety One UK Ltd now owns 1,426,761 shares of the company's stock valued at $124,573,000 after buying an additional 164,784 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Colgate-Palmolive by 87.0% in the third quarter. State of Alaska Department of Revenue now owns 196,811 shares of the company's stock worth $16,792,000 after buying an additional 91,566 shares in the last quarter. Charles Schwab Trust Co lifted its stake in shares of Colgate-Palmolive by 68.8% in the third quarter. Charles Schwab Trust Co now owns 12,190 shares of the company's stock worth $1,040,000 after buying an additional 4,967 shares in the last quarter. WealthPlan Investment Management LLC boosted its position in Colgate-Palmolive by 896.5% during the third quarter. WealthPlan Investment Management LLC now owns 22,701 shares of the company's stock worth $1,937,000 after acquiring an additional 20,423 shares during the last quarter. Finally, Mainsail Asset Management LLC boosted its position in Colgate-Palmolive by 41.5% during the third quarter. Mainsail Asset Management LLC now owns 5,181 shares of the company's stock worth $442,000 after acquiring an additional 1,519 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John 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 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. The trade was a 12.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Noel Wallace sold 161,021 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Jefferies Financial Group restated a "hold" rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. TD Cowen upped their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus price target of $97.95.

Colgate-Palmolive Trading Down 0.2%

Shares of CL traded down $0.21 during mid-day trading on Thursday, reaching $92.56. The stock had a trading volume of 3,865,949 shares, compared to its average volume of 5,662,819. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 36.73, a P/E/G ratio of 4.30 and a beta of 0.33. The business's fifty day moving average is $89.04 and its 200 day moving average is $88.93. 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 (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping 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 net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

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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