Colgate-Palmolive Company $CL Shares Bought by Adirondack Trust Co.

Adirondack Trust Co. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 83.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,220 shares of the company’s stock after acquiring an additional 8,305 shares during the period. Adirondack Trust Co.’s holdings in Colgate-Palmolive were worth $1,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. State Street Corp boosted its position in shares of 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 during the period. Bank of New York Mellon Corp raised its position in Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after purchasing an additional 1,010,872 shares during the period. First Eagle Investment Management LLC lifted its stake in Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after purchasing an additional 88,917 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Colgate-Palmolive by 17.4% during the first quarter. Bank of America Corp DE now owns 6,637,597 shares of the company’s stock worth $565,722,000 after buying an additional 986,063 shares during the period. Finally, Amundi raised its holdings in shares of Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after buying an additional 1,033,918 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 2.1%

Shares of CL stock traded up $1.91 on Wednesday, reaching $91.86. 1,695,359 shares of the stock were exchanged, compared to its average volume of 5,652,772. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The business’s 50 day moving average price is $89.05 and its 200 day moving average price is $88.87. The company has a market capitalization of $73.23 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping 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 analyst estimates of $5.36 billion. During the same period last year, the business earned $0.92 EPS. Colgate-Palmolive’s revenue for the quarter 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 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, September 21st. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Bank of America cut their target price on shares of Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Evercore boosted their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.11.

Insider Activity at Colgate-Palmolive

In other 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 transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company’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 $33,296,273.52. This trade represents 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. Insiders have sold 175,191 shares of company stock worth $16,110,903 in the last quarter. Company insiders own 0.43% of the company’s stock.

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.