Colgate-Palmolive Company $CL Stock Purchased by Horrell Capital Management Inc.

Horrell Capital Management Inc. lifted its position in Colgate-Palmolive Company (NYSE:CL) by 53,577.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,324 shares of the company’s stock after acquiring an additional 19,288 shares during the quarter. Horrell Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CL. State Street Corp grew its position in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 worth $1,240,652,000 after acquiring an additional 1,010,872 shares during the period. Deutsche Bank AG boosted its stake in shares of Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after acquiring an additional 88,917 shares during the period. Finally, Amundi grew its position in shares of Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after acquiring 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 Price Performance

Colgate-Palmolive stock traded up $0.86 during midday trading on Thursday, reaching $88.07. The company had a trading volume of 4,080,637 shares, compared to its average volume of 5,703,748. The company has a market capitalization of $70.21 billion, a P/E ratio of 34.95, a P/E/G ratio of 4.07 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm’s fifty day simple moving average is $89.16 and its 200-day simple moving average is $88.77. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company’s stock, valued at approximately $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 SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 in the last 90 days. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CL shares. Citigroup upped 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. Royal Bank Of Canada reissued an “outperform” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Piper Sandler cut their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, September 21st. UBS Group upped their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $98.65.

About Colgate-Palmolive

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.