GAMMA Investing LLC Buys 2,677 Shares of Colgate-Palmolive (NYSE:CL)

GAMMA Investing LLC boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 32.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,952 shares of the company’s stock after buying an additional 2,677 shares during the quarter. GAMMA Investing LLC’s holdings in Colgate-Palmolive were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Main Street Research LLC raised its holdings in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after purchasing an additional 100 shares in the last quarter. Advisor OS LLC raised its holdings in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after purchasing an additional 101 shares in the last quarter. BLB&B Advisors LLC raised its holdings in shares of Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after purchasing an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in shares of Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after acquiring an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of Colgate-Palmolive by 9.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CL. TD Cowen boosted their price objective on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. 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 note on Wednesday, July 10th. Sanford C. Bernstein boosted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Finally, UBS Group boosted their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.74.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $98.57 on Tuesday. The company’s fifty day moving average price is $103.65 and its 200 day moving average price is $96.87. Colgate-Palmolive has a 1 year low of $68.44 and a 1 year high of $109.30. The company has a market capitalization of $80.87 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.62 and a beta of 0.40. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. On average, research analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, 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 transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sally Massey sold 15,850 shares of the 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 completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive 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.