19,454 Colgate-Palmolive Company $CL Shares Acquired by Ashurst Perkins Coie Trust Co

Ashurst Perkins Coie Trust Co grew its stake in Colgate-Palmolive Company (NYSE:CL) by 3,677.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,983 shares of the company’s stock after purchasing an additional 19,454 shares during the quarter. Ashurst Perkins Coie Trust Co’s holdings in Colgate-Palmolive were worth $1,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LP lifted its stake in shares of Colgate-Palmolive by 29.0% in the 2nd 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 bought a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $567,483,000. Brandywine Financial Group grew its stake in Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. SEB Asset Management AB purchased a new stake in Colgate-Palmolive in the first quarter worth $91,149,000. Finally, Robinhood Asset Management LLC purchased a new stake in Colgate-Palmolive in the second quarter worth $11,554,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders 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 Stock Performance

Shares of CL opened at $92.80 on Thursday. 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 P/E ratio of 36.83, a P/E/G ratio of 4.30 and a beta of 0.33. The business’s 50 day moving average price is $89.04 and its 200-day moving average price is $88.93. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Evercore boosted their target price on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. 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. Bank of America decreased their price target on shares of Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Finally, Piper Sandler decreased 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 note on Monday, September 21st. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

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.