Chemung Canal Trust Co. Has $1.70 Million Holdings in Colgate-Palmolive Company $CL

Chemung Canal Trust Co. lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,686 shares of the company’s stock after selling 1,104 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $1,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC lifted its position in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $33,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.4%

Shares of CL opened at $78.01 on Friday. Colgate-Palmolive Company has a 1 year low of $77.91 and a 1 year high of $102.61. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock has a 50 day simple moving average of $83.29 and a 200-day simple moving average of $88.32. The stock has a market cap of $63.05 billion, a PE ratio of 21.91, a PEG ratio of 4.06 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the firm posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Saturday, September 27th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday. They set a “neutral” rating and a $84.00 price objective for the company. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, The Goldman Sachs Group cut their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.83.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.