Colgate-Palmolive Company $CL Stock Holdings Boosted by Hengehold Capital Management LLC

Hengehold Capital Management LLC raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 272.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,354 shares of the company’s stock after purchasing an additional 10,500 shares during the quarter. Hengehold Capital Management LLC’s holdings in Colgate-Palmolive were worth $1,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corient Private Wealth LP grew its holdings 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 buying an additional 143,812 shares during the period. Bank of America Corp DE acquired a new stake in Colgate-Palmolive during the 2nd quarter worth $567,483,000. Brandywine Financial Group raised its stake in Colgate-Palmolive by 35,612.3% during the 1st 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 during the period. SEB Asset Management AB bought a new position in Colgate-Palmolive during the first quarter worth about $91,149,000. Finally, Robinhood Asset Management LLC bought a new position in Colgate-Palmolive during the second quarter worth about $11,554,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 1.5%

CL stock traded up $1.35 during trading hours on Friday, reaching $94.02. 5,775,087 shares of the stock were exchanged, compared to its average volume of 5,409,072. The firm’s 50-day moving average is $89.05 and its 200-day moving average is $89.02. The company has a market cap of $74.95 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 4.43 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors 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 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction 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. This represents a 30.77% decrease in their position. 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. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 in the last quarter. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley reissued an “overweight” rating and set a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.95.

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.