North Point Portfolio Managers Corp OH Acquires 45,721 Shares of Colgate-Palmolive Company $CL

North Point Portfolio Managers Corp OH acquired a new stake in Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 45,721 shares of the company’s stock, valued at approximately $3,901,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Bank of America Corp DE bought a new stake in Colgate-Palmolive during the second quarter worth $567,483,000. Envestnet Asset Management Inc. raised its position in Colgate-Palmolive by 266.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after buying an additional 3,014,860 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive during the 4th quarter valued at $236,682,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several recent analyst reports. Barclays upped their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Morgan Stanley reissued an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Piper Sandler reduced their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, September 21st. Citigroup lifted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.65.

Colgate-Palmolive Stock Performance

NYSE:CL traded up $0.39 during trading hours on Wednesday, reaching $87.64. The stock had a trading volume of 1,026,266 shares, compared to its average volume of 5,697,508. The stock has a market cap of $69.87 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 4.02 and a beta of 0.33. The stock has a 50 day simple moving average of $89.36 and a 200 day simple moving average of $88.74. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 84.13%.

Colgate-Palmolive 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.