Colgate-Palmolive Company $CL Stock Holdings Boosted by Bath Savings Trust Co

Key Points

• Institutional investors increased their Colgate-Palmolive holdings: Bath Savings Trust Co. raised its stake by 25.6% to 102,389 shares, while several other firms also significantly expanded positions. Institutions and hedge funds own 80.41% of the company.
• Colgate-Palmolive reported solid quarterly results, with earnings of $0.99 per share versus the $0.95 consensus estimate and revenue up 4.9% year over year to $5.36 billion.
• The company declared a quarterly dividend of $0.53 per share, equivalent to a 2.4% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.65, above the reported share price of $87.26.

Bath Savings Trust Co raised its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 25.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,389 shares of the company's stock after purchasing an additional 20,876 shares during the period. Bath Savings Trust Co's holdings in Colgate-Palmolive were worth $8,736,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CL. Greenfield Savings Bank grew its stake in Colgate-Palmolive by 403.8% in the 3rd quarter. Greenfield Savings Bank now owns 12,055 shares of the company's stock valued at $1,029,000 after acquiring an additional 9,662 shares during the period. Bank & Trust Co raised its position in Colgate-Palmolive by 451.2% during the third quarter. Bank & Trust Co now owns 4,630 shares of the company's stock worth $395,000 after acquiring an additional 3,790 shares during the period. S.E.E.D. Planning Group LLC lifted its holdings in Colgate-Palmolive by 676.3% during the third quarter. S.E.E.D. Planning Group LLC now owns 19,059 shares of the company's stock valued at $1,626,000 after purchasing an additional 16,604 shares in the last quarter. North Point Portfolio Managers Corp OH acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at about $3,901,000. Finally, First Community Trust NA grew its position in shares of Colgate-Palmolive by 201.8% in the third quarter. First Community Trust NA now owns 1,186 shares of the company's stock valued at $101,000 after purchasing an additional 793 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.0%

NYSE CL traded up $0.01 during trading hours on Wednesday, reaching $87.26. The company had a trading volume of 3,773,453 shares, compared to its average volume of 5,712,208. The stock has a 50-day moving average of $89.36 and a 200 day moving average of $88.74. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $69.56 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 4.02 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the business earned $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, research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company 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 $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's payout ratio is presently 84.13%.

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction 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 directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,191 shares of company stock worth $16,110,903 over the last ninety days. Corporate insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CL shares. Morgan Stanley reissued an "overweight" rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Piper Sandler reduced their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, September 21st. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.65.

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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