Colgate-Palmolive Company $CL Stock: Adirondack Trust Co. Increases Holdings

Adirondack Trust Co. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 83.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,220 shares of the company’s stock after buying an additional 8,305 shares during the period. Adirondack Trust Co.’s holdings in Colgate-Palmolive were worth $1,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CL. Corient Private Wealth LP lifted its stake in shares of Colgate-Palmolive by 29.0% in the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after purchasing an additional 143,812 shares during the period. Bank of America Corp DE purchased a new stake in Colgate-Palmolive during the second quarter worth about $567,483,000. Brandywine Financial Group boosted its holdings in Colgate-Palmolive by 35,612.3% during the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after buying an additional 72,649 shares in the last quarter. SEB Asset Management AB acquired a new position in Colgate-Palmolive during the first quarter worth about $91,149,000. Finally, Robinhood Asset Management LLC acquired a new position in Colgate-Palmolive during the second quarter worth about $11,554,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CL. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, September 21st. TD Cowen upped their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Weiss Ratings downgraded Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. BNP Paribas Exane reduced their price objective on Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.11.

Insider Activity

In related news, Director John Cahill sold 4,170 shares of the stock in a transaction 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 owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. 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 three months. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $1.91 during trading on Wednesday, hitting $91.86. 1,695,359 shares of the company were exchanged, compared to its average volume of 5,652,772. 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 quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The firm has a 50 day moving average price of $89.05 and a 200 day moving average price of $88.87. The stock has a market capitalization of $73.23 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 4.30 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating 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%. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

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.