Eastern Bank Purchases Shares of 9,332 Colgate-Palmolive (NYSE:CL)

Eastern Bank purchased a new position in Colgate-Palmolive (NYSE:CL) during the 3rd quarter, HoldingsChannel reports. The fund purchased 9,332 shares of the company’s stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Swedbank AB bought a new stake in shares of Colgate-Palmolive during the 1st quarter worth $286,370,000. Acadian Asset Management LLC grew its position in Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after acquiring an additional 2,593,313 shares during the last quarter. Finally, Ossiam raised its position in Colgate-Palmolive by 368.4% during the first quarter. Ossiam now owns 1,563,768 shares of the company’s stock valued at $140,817,000 after purchasing an additional 1,229,891 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 in the last three months. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CL. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Barclays upped their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Stock Performance

Shares of CL opened at $98.98 on Thursday. Colgate-Palmolive has a one year low of $71.46 and a one year high of $109.30. The company has a 50-day simple moving average of $103.31 and a two-hundred day simple moving average of $97.84. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market capitalization of $81.21 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. Colgate-Palmolive’s payout ratio is 63.29%.

About Colgate-Palmolive

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.