North American Management Corp Lowers Holdings in Colgate-Palmolive (NYSE:CL)

North American Management Corp trimmed its position in Colgate-Palmolive (NYSE:CL) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,662 shares of the company’s stock after selling 378 shares during the period. North American Management Corp’s holdings in Colgate-Palmolive were worth $2,983,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Garrison Point Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $205,000. New Mexico Educational Retirement Board increased its stake in Colgate-Palmolive by 14.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 66,230 shares of the company’s stock worth $4,869,000 after acquiring an additional 8,600 shares during the last quarter. Cedar Capital LLC raised its holdings in shares of Colgate-Palmolive by 13.2% in the 3rd quarter. Cedar Capital LLC now owns 7,437 shares of the company’s stock valued at $574,000 after acquiring an additional 865 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its position in shares of Colgate-Palmolive by 1,476.6% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 92,828 shares of the company’s stock valued at $7,161,000 after acquiring an additional 86,940 shares during the last quarter. Finally, Ethic Inc. boosted its position in shares of Colgate-Palmolive by 19.3% during the 3rd quarter. Ethic Inc. now owns 7,965 shares of the company’s stock valued at $614,000 after acquiring an additional 1,286 shares during the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.

CL stock traded up $1.97 during trading on Friday, hitting $78.64. 181,748 shares of the company traded hands, compared to its average volume of 4,259,193. The company has a 50-day moving average of $77.86 and a 200-day moving average of $74.60. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.59 and a current ratio of 0.92. Colgate-Palmolive has a 1 year low of $58.49 and a 1 year high of $80.99. The firm has a market capitalization of $65.74 billion, a PE ratio of 25.64, a P/E/G ratio of 4.54 and a beta of 0.59.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Colgate-Palmolive had a return on equity of 559.34% and a net margin of 16.13%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive will post 2.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, October 22nd. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 62.19%.

A number of equities research analysts recently weighed in on the stock. Truist lifted their target price on shares of Colgate-Palmolive from $80.00 to $85.00 in a research report on Monday. Royal Bank of Canada reaffirmed a “buy” rating and set a $88.00 price objective on shares of Colgate-Palmolive in a report on Thursday, July 30th. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, July 31st. Morgan Stanley raised their price target on Colgate-Palmolive from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Colgate-Palmolive from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $76.08.

In related news, insider Sally Massey sold 387 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $77.30, for a total transaction of $29,915.10. Following the completion of the transaction, the insider now owns 4,856 shares in the company, valued at $375,368.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Philip G. Shotts sold 401 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $77.29, for a total value of $30,993.29. Following the completion of the sale, the vice president now directly owns 41,263 shares of the company’s stock, valued at approximately $3,189,217.27. The disclosure for this sale can be found here. Insiders sold 256,994 shares of company stock worth $19,678,851 in the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment products include 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 similar items.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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