Colgate-Palmolive Company $CL Shares Bought by Greenfield Savings Bank

Greenfield Savings Bank lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 403.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,055 shares of the company’s stock after buying an additional 9,662 shares during the period. Greenfield Savings Bank’s holdings in Colgate-Palmolive were worth $1,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LP boosted its position in Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock worth $58,639,000 after purchasing an additional 143,812 shares in the last quarter. Brandywine Financial Group increased its position in shares of Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after buying an additional 72,649 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth $567,483,000. SEB Asset Management AB purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $91,149,000. Finally, Robinhood Asset Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at about $11,554,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

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

Colgate-Palmolive Trading Up 0.0%

Shares of CL traded up $0.01 on Wednesday, hitting $87.26. 3,773,453 shares of the stock traded hands, compared to its average volume of 5,712,208. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock’s 50 day moving average is $89.23 and its two-hundred day moving average is $88.75. The firm has a market capitalization of $69.56 billion, a P/E ratio of 34.63, a P/E/G ratio of 4.02 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm 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. The ex-dividend date of this dividend 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 currently 84.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group lifted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.65.

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.