Congress Asset Management Co. MA Lowers Position in Colgate-Palmolive (NYSE:CL)

Congress Asset Management Co. MA decreased its holdings in shares of Colgate-Palmolive (NYSE:CLFree Report) by 2.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 157,284 shares of the company’s stock after selling 3,535 shares during the period. Congress Asset Management Co. MA’s holdings in Colgate-Palmolive were worth $11,184,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Colgate-Palmolive by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 17,955,146 shares of the company’s stock worth $1,380,210,000 after buying an additional 497,852 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Colgate-Palmolive by 90,253.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock worth $1,258,627,000 after acquiring an additional 15,956,771 shares in the last quarter. Morgan Stanley grew its stake in shares of Colgate-Palmolive by 41.7% during the fourth quarter. Morgan Stanley now owns 11,370,549 shares of the company’s stock worth $895,886,000 after acquiring an additional 3,345,297 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Colgate-Palmolive by 0.5% during the first quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock valued at $793,971,000 after acquiring an additional 50,040 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $644,715,000. Institutional investors own 78.36% of the company’s stock.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $77.83, for a total value of $1,167,450.00. Following the transaction, the insider now directly owns 12,371 shares in the company, valued at approximately $962,834.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Panagiotis Tsourapas sold 15,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $77.83, for a total value of $1,167,450.00. Following the completion of the sale, the insider now owns 12,371 shares in the company, valued at approximately $962,834.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorrie M. Norrington sold 6,329 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $74.56, for a total value of $471,890.24. Following the transaction, the director now owns 31,307 shares in the company, valued at $2,334,249.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,129 shares of company stock worth $2,164,908. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, December 15th. Jefferies Financial Group initiated coverage on Colgate-Palmolive in a research note on Monday, November 13th. They set a “buy” rating and a $87.00 price target on the stock. Barclays lifted their target price on Colgate-Palmolive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday. HSBC initiated coverage on shares of Colgate-Palmolive in a research report on Friday, September 22nd. They set a “buy” rating and a $84.00 price target for the company. Finally, Citigroup dropped their price objective on shares of Colgate-Palmolive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $84.79.

Check Out Our Latest Stock Analysis on Colgate-Palmolive

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $80.97 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 21.40. The business’s 50 day moving average is $78.28 and its two-hundred day moving average is $75.52. The company has a market capitalization of $66.67 billion, a P/E ratio of 42.17, a P/E/G ratio of 3.14 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $82.09.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its earnings results on Friday, October 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Colgate-Palmolive had a net margin of 8.29% and a return on equity of 533.40%. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company posted $0.74 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post 3.21 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.48 per share. The ex-dividend date is Friday, January 19th. This represents a $1.92 annualized dividend and a dividend yield of 2.37%. Colgate-Palmolive’s payout ratio is 100.00%.

Colgate-Palmolive Company Profile

(Free Report)

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 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.

Further Reading

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

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