Godsey & Gibb Inc. Buys New Holdings in Colgate-Palmolive Company $CL

Key Points

• Godsey & Gibb acquired 67,712 Colgate-Palmolive shares during the third quarter, valued at approximately $5.8 million. Institutional investors own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion.
• The company declared a quarterly dividend of $0.53 per share, equal to an annualized $2.12 payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.11.

Godsey & Gibb Inc. bought a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,712 shares of the company's stock, valued at approximately $5,777,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Columbus Macro LLC raised its position in Colgate-Palmolive by 18.2% during the 3rd quarter. Columbus Macro LLC now owns 139,078 shares of the company's stock valued at $11,866,000 after purchasing an additional 21,427 shares during the last quarter. Union Savings Bank grew its position in shares of Colgate-Palmolive by 1,886.8% in the 3rd quarter. Union Savings Bank now owns 3,457 shares of the company's stock worth $295,000 after buying an additional 3,283 shares during the last quarter. Essex LLC grew its position in shares of Colgate-Palmolive by 32.8% in the 3rd quarter. Essex LLC now owns 3,518 shares of the company's stock worth $300,000 after buying an additional 868 shares during the last quarter. Triumph Capital Management increased its stake in shares of Colgate-Palmolive by 93.8% during the third quarter. Triumph Capital Management now owns 901 shares of the company's stock valued at $77,000 after buying an additional 436 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $1,625,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $92.80 on Thursday. The business's fifty day moving average is $89.04 and its 200 day moving average is $88.93. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared 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 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

Analyst Ratings Changes

A number of brokerages recently commented on CL. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. BNP Paribas Exane decreased their price objective on shares of Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating for the company in a report on Monday, September 28th. Jefferies Financial Group restated a "hold" rating and issued a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.11.

Insider Buying and Selling

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company's stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Cahill sold 4,170 shares of the company's 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 completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 175,191 shares of company stock valued at $16,110,903 over the last quarter. Corporate 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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