North Point Portfolio Managers Corp OH Purchases New Position in Colgate-Palmolive Company $CL

Key Points

• North Point Portfolio Managers acquired 45,721 Colgate-Palmolive shares in the third quarter, worth approximately $3.9 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53 per share, yielding about 2.4% annually.
• Shares recently traded near $87.64, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.65. Insiders, including CEO Noel Wallace, have sold $16.1 million of stock over the past 90 days.

North Point Portfolio Managers Corp OH acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,721 shares of the company's stock, valued at approximately $3,901,000.

A number of other hedge funds have also recently added to or reduced their stakes in CL. First Community Trust NA lifted its stake in shares of Colgate-Palmolive by 201.8% in the 3rd quarter. First Community Trust NA now owns 1,186 shares of the company's stock valued at $101,000 after acquiring an additional 793 shares during the last quarter. Great Waters Wealth Management increased its holdings in Colgate-Palmolive by 15.7% in the 3rd quarter. Great Waters Wealth Management now owns 8,159 shares of the company's stock worth $696,000 after purchasing an additional 1,106 shares in the last quarter. Nautilus Advisors LLC increased its holdings in Colgate-Palmolive by 21.7% in the 3rd quarter. Nautilus Advisors LLC now owns 5,132 shares of the company's stock worth $438,000 after purchasing an additional 915 shares in the last quarter. Congress Asset Management Co. raised its position in Colgate-Palmolive by 1,240.4% in the third quarter. Congress Asset Management Co. now owns 69,968 shares of the company's stock valued at $5,970,000 after purchasing an additional 64,748 shares during the last quarter. Finally, Legacy Private Trust Co. boosted its stake in shares of Colgate-Palmolive by 426.7% during the third quarter. Legacy Private Trust Co. now owns 14,870 shares of the company's stock valued at $1,269,000 after purchasing an additional 12,047 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel Wallace sold 161,021 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Cahill sold 4,170 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive Trading Up 0.5%

Shares of Colgate-Palmolive stock traded up $0.39 on Wednesday, hitting $87.64. 1,026,266 shares of the company's stock traded hands, compared to its average volume of 5,697,508. The company has a market capitalization of $69.87 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 4.02 and a beta of 0.33. The company has a fifty day moving average of $89.36 and a two-hundred day moving average of $88.74. 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced 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 dividend yield of 2.4%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's payout ratio is presently 84.13%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CL. TD Cowen raised their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, September 21st. Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. 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, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

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.