First Citizens Bank & Trust Co. Has $1.10 Million Position in Colgate-Palmolive (NYSE:CL)

First Citizens Bank & Trust Co. reduced its stake in Colgate-Palmolive (NYSE:CL) by 1.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,547 shares of the company’s stock after selling 166 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $1,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $25,000. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Register Financial Advisors LLC bought a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $48,000. Gradient Investments LLC grew its holdings in shares of Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after purchasing an additional 400 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Colgate-Palmolive in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $100.46 on Friday. The firm has a market capitalization of $82.42 billion, a PE ratio of 31.79, a PEG ratio of 3.54 and a beta of 0.40. The stock’s fifty day moving average is $103.43 and its 200 day moving average is $97.60. Colgate-Palmolive has a fifty-two week low of $71.46 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 1.99%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insiders Place Their Bets

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler started coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. Wells Fargo & Company cut shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective on the stock. in a research report on Monday, September 16th. TD Cowen boosted their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.