Ferguson Wellman Capital Management Inc. Purchases 247,112 Shares of Colgate-Palmolive Company $CL

Ferguson Wellman Capital Management Inc. grew its position in Colgate-Palmolive Company (NYSE:CL) by 6,648.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 250,829 shares of the company’s stock after purchasing an additional 247,112 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Colgate-Palmolive were worth $21,401,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $32,000. Park Place Capital Corp grew its holdings in shares of Colgate-Palmolive by 55.5% during the 2nd quarter. Park Place Capital Corp now owns 356 shares of the company’s stock worth $33,000 after purchasing an additional 127 shares during the period. Gould Capital LLC increased its position in shares of Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Montgomery Financial Services LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, Director John Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Noel Wallace sold 161,021 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 1.6%

Shares of CL traded up $1.35 during midday trading on Monday, hitting $85.61. The company had a trading volume of 1,957,685 shares, compared to its average volume of 5,709,736. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market capitalization of $68.25 billion, a P/E ratio of 33.98, a P/E/G ratio of 3.93 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company’s 50-day simple moving average is $89.59 and its 200-day simple moving average is $88.77.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is 84.13%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. TD Cowen boosted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $98.65.

Colgate-Palmolive Company Profile

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.