7,028 Colgate-Palmolive Company $CL Shares Bought by Welch Group LLC

Welch Group LLC increased its position in Colgate-Palmolive Company (NYSE:CL) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 641,292 shares of the company’s stock after acquiring an additional 7,028 shares during the period. Colgate-Palmolive comprises approximately 1.9% of Welch Group LLC’s holdings, making the stock its 26th largest position. Welch Group LLC’s holdings in Colgate-Palmolive were worth $54,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Colgate-Palmolive by 97.4% in 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 lifted its holdings 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 purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Colgate-Palmolive during the second quarter valued at $567,483,000. Envestnet Asset Management Inc. boosted its position in shares of Colgate-Palmolive by 266.5% during the second 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, Assenagon Asset Management S.A. boosted its position in shares of Colgate-Palmolive by 151.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after buying an additional 2,575,530 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CL. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, September 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Weiss Ratings lowered shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Finally, BNP Paribas Exane reduced their price target on shares of Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $99.17.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the firm’s 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 of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Up 0.1%

CL stock opened at $95.35 on Monday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business’s 50-day moving average is $89.54 and its two-hundred day moving average is $89.65. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.30 and a current ratio of 0.46. The company has a market cap of $76.01 billion, a price-to-earnings ratio of 37.39, a P/E/G ratio of 4.59 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the company posted $0.91 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Colgate-Palmolive Company will post 3.89 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is 84.13%.

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, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.