Bridges Investment Management Inc. Purchases 1,300 Shares of Colgate-Palmolive (NYSE:CL)

Bridges Investment Management Inc. raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 11.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,837 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. Bridges Investment Management Inc.’s holdings in Colgate-Palmolive were worth $1,246,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Mitchell Sinkler & Starr PA lifted its holdings in Colgate-Palmolive by 92.6% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock worth $3,659,000 after purchasing an additional 22,073 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd lifted its stake in Colgate-Palmolive by 57.1% in the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 383,819 shares of the company’s stock worth $30,594,000 after purchasing an additional 139,429 shares during the last quarter. D L Carlson Investment Group Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $3,269,000. Diversify Advisory Services LLC bought a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $911,000. Finally, TD Asset Management Inc raised its holdings in shares of Colgate-Palmolive by 2.4% in the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after buying an additional 26,987 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction 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 sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 in the last ninety days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen boosted their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company lowered shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price for the company. in a research note on Monday, September 16th. BNP Paribas initiated coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target on the stock. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus upped their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.79.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $103.03 on Friday. The company has a market capitalization of $84.53 billion, a PE ratio of 32.60, a P/E/G ratio of 3.72 and a beta of 0.40. The company has a 50-day simple moving average of $102.71 and a two-hundred day simple moving average of $95.76. Colgate-Palmolive has a one year low of $67.62 and a one year 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 posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Colgate-Palmolive’s payout ratio is 63.29%.

About Colgate-Palmolive

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.