Stokes Capital Advisors LLC Purchases 19,184 Shares of Colgate-Palmolive Company $CL

Key Points

• Stokes Capital Advisors increased its Colgate-Palmolive stake by 53.5% in the third quarter, purchasing 19,184 shares and bringing its total holdings to 55,055 shares valued at approximately $4.7 million.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding analysts’ $0.95 estimate, 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.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $98.65, compared with the stock’s reported price of $88.19.

Stokes Capital Advisors LLC lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 53.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,055 shares of the company's stock after purchasing an additional 19,184 shares during the period. Stokes Capital Advisors LLC's holdings in Colgate-Palmolive were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. RFG Bristol Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 99.2% in the third quarter. RFG Bristol Wealth Advisors LLC now owns 6,375 shares of the company's stock worth $544,000 after acquiring an additional 3,175 shares during the period. GK Wealth Management LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at approximately $53,000. Castle Rock Wealth Management LLC lifted its holdings in Colgate-Palmolive by 42.1% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 11,789 shares of the company's stock worth $1,006,000 after purchasing an additional 3,491 shares in the last quarter. Lincoln Capital LLC grew its holdings in Colgate-Palmolive by 41.7% during the 3rd quarter. Lincoln Capital LLC now owns 8,129 shares of the company's stock valued at $694,000 after buying an additional 2,392 shares in the last quarter. Finally, Bullock Wealth Management Group raised its position in shares of Colgate-Palmolive by 334.0% during the third quarter. Bullock Wealth Management Group now owns 3,598 shares of the company's stock valued at $307,000 after buying an additional 2,769 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.1%

CL stock opened at $88.19 on Friday. The firm has a fifty day moving average price of $89.10 and a 200 day moving average price of $88.77. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The firm has a market cap of $70.31 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) 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 company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Colgate-Palmolive's revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm 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. The ex-dividend date 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 84.13%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CL shares. JPMorgan Chase & Co. lowered their target price 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. UBS Group boosted their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, September 21st. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $98.65.

Insider Activity

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

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.