Concord Wealth Partners Buys 872 Shares of Colgate-Palmolive (NYSE:CL)

Concord Wealth Partners boosted its stake in Colgate-Palmolive (NYSE:CL) by 8.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,618 shares of the company’s stock after buying an additional 872 shares during the period. Concord Wealth Partners’ holdings in Colgate-Palmolive were worth $1,206,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Diversify Advisory Services LLC bought a new position in shares of Colgate-Palmolive during the first quarter worth approximately $911,000. TD Asset Management Inc increased its position in Colgate-Palmolive by 2.4% during the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after buying an additional 26,987 shares during the period. Empowered Funds LLC lifted its holdings in shares of Colgate-Palmolive by 277.3% during the first quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock worth $2,979,000 after buying an additional 24,314 shares in the last quarter. M&G Plc bought a new stake in shares of Colgate-Palmolive in the first quarter valued at about $3,812,000. Finally, Sei Investments Co. grew its stake in shares of Colgate-Palmolive by 41.5% in the first quarter. Sei Investments Co. now owns 598,639 shares of the company’s stock valued at $53,901,000 after acquiring an additional 175,445 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on 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 transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock valued at $4,486,063 over the last quarter. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $0.56 during midday trading on Monday, reaching $96.17. 1,640,265 shares of the company were exchanged, compared to its average volume of 4,336,998. The stock’s 50-day moving average price is $103.15 and its 200-day moving average price is $98.06. The stock has a market cap of $78.90 billion, a P/E ratio of 30.28, a PEG ratio of 3.54 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a one year low of $72.36 and a one year high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CL shares. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, July 24th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $105.53.

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.