Colgate-Palmolive Company $CL Stake Lifted by Cypress Asset Management Inc. TX

Key Points

• Cypress Asset Management increased its Colgate-Palmolive stake by 71.5% in the third quarter, bringing its holdings to 37,585 shares valued at approximately $3.21 million. Institutional investors collectively own 80.41% of the company.
• Analyst sentiment remains favorable, with 12 Buy ratings and seven Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $98.65.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding expectations, 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.

Cypress Asset Management Inc. TX increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 71.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,585 shares of the company's stock after purchasing an additional 15,669 shares during the quarter. Cypress Asset Management Inc. TX's holdings in Colgate-Palmolive were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CL. State Street Corp lifted its position in 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 buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 8.1% in the 2nd 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 during the period. First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after acquiring an additional 88,917 shares in the last quarter. Amundi increased its stake in shares of Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock worth $570,090,000 after acquiring an additional 1,033,918 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Colgate-Palmolive during the 2nd quarter valued at about $567,483,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CL. Barclays raised their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Weiss Ratings cut Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. UBS Group lifted their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating 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. Finally, Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.65.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock worth $16,110,903 in the last three months. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $88.07 on Friday. The firm has a market capitalization of $70.21 billion, a P/E ratio of 34.95, a PEG ratio of 4.07 and a beta of 0.33. 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 one year low of $74.54 and a one year high of $99.33. The business has a fifty day moving average of $89.16 and a 200 day moving average of $88.77.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its 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. 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 for the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given 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 payout ratio is presently 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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