Bank of Montreal Can Increases Stake in Colgate-Palmolive (NYSE:CL)

Bank of Montreal Can raised its holdings in Colgate-Palmolive (NYSE:CL) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,327,988 shares of the company’s stock after buying an additional 79,304 shares during the period. Bank of Montreal Can owned approximately 0.28% of Colgate-Palmolive worth $230,005,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the second quarter worth approximately $25,000. Continuum Advisory LLC lifted its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Core Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares in the last quarter. Rise Advisors LLC purchased a new position in Colgate-Palmolive in the first quarter valued at $38,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CL. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. TD Cowen increased their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Bank of America boosted their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company downgraded shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research report on Monday, September 16th. Finally, Barclays boosted their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $103.31 on Tuesday. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market cap of $84.76 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The firm’s fifty day moving average price is $102.83 and its 200 day moving average price is $95.99. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for 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%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. On average, sell-side analysts expect that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid 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 dividend payout ratio (DPR) is presently 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $240,228.18. Following the transaction, the director now directly 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 43,490 shares of company stock valued at $4,486,063 over the last quarter. Company insiders own 0.34% of the company’s stock.

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.