Neville Rodie & Shaw Inc. Increases Stock Position in Colgate-Palmolive Company $CL

Key Points

• Neville Rodie & Shaw increased its Colgate-Palmolive stake by 240.2% in the third quarter, bringing its holdings to 35,720 shares valued at approximately $3.05 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding analysts’ $0.95 estimate, while revenue reached $5.36 billion, up 4.9% year over year. The company declared a quarterly dividend of $0.53 per share, representing a 2.5% yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $98.65, though company insiders recently sold roughly $16.1 million in shares.

Neville Rodie & Shaw Inc. grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 240.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,720 shares of the company's stock after buying an additional 25,220 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in Colgate-Palmolive were worth $3,048,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. State Street Corp increased its position in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company's stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp grew its position in Colgate-Palmolive by 8.1% during 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 acquiring an additional 1,010,872 shares during the last quarter. Deutsche Bank AG boosted its stake in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after purchasing an additional 88,917 shares during the last quarter. Finally, Amundi raised its holdings in shares of Colgate-Palmolive by 19.9% in the second quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after buying an additional 1,033,918 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.5%

Shares of CL stock traded up $1.27 on Monday, hitting $85.53. 2,034,114 shares of the stock were exchanged, compared to its average volume of 5,710,107. 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 firm has a market capitalization of $68.18 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 3.93 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business has a 50-day moving average of $89.59 and a 200 day moving average of $88.77.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares of the company's stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on CL shares. UBS Group increased their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Piper Sandler cut their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, September 21st. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus target price of $98.65.

About Colgate-Palmolive

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.