Patten Group Inc. Reduces Stock Holdings in Colgate-Palmolive (NYSE:CL)

Patten Group Inc. cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,800 shares of the company’s stock after selling 271 shares during the quarter. Patten Group Inc.’s holdings in Colgate-Palmolive were worth $1,640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. D L Carlson Investment Group Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $3,269,000. Diversify Advisory Services LLC purchased a new stake in Colgate-Palmolive during the 1st quarter worth approximately $911,000. TD Asset Management Inc grew its position in shares of Colgate-Palmolive by 2.4% in the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after acquiring an additional 26,987 shares in the last quarter. Empowered Funds LLC grew its position in shares of Colgate-Palmolive by 277.3% in the 1st quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock worth $2,979,000 after acquiring an additional 24,314 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $3,812,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.4 %

CL opened at $100.98 on Thursday. Colgate-Palmolive has a one year low of $68.54 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. The stock’s fifty day moving average is $103.61 and its 200-day moving average is $97.02. The company has a market capitalization of $82.85 billion, a PE ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s 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 directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Sanford C. Bernstein lifted their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. BNP Paribas started coverage on Colgate-Palmolive in a research report on Monday, June 24th. They issued an “outperform” rating and a $109.00 target price for the company. Finally, Morgan Stanley boosted their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” 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 fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.74.

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.