Bath Savings Trust Co Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Bath Savings Trust Co reduced its holdings in Colgate-Palmolive (NYSE:CL) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,482 shares of the company’s stock after selling 439 shares during the period. Bath Savings Trust Co’s holdings in Colgate-Palmolive were worth $5,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares during the last quarter. Swedbank AB purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $286,370,000. Acadian Asset Management LLC increased its position in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in Colgate-Palmolive in the first quarter worth $130,622,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $98.57 on Tuesday. The firm has a 50 day moving average of $103.65 and a 200 day moving average of $96.87. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The company has a market capitalization of $80.87 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 3.62 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $68.44 and a 52 week high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction 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. 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 available at this link. In other news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated 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 transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock valued at $4,486,063 in the last 90 days. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several recent analyst reports. Barclays increased their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, Sanford C. Bernstein increased their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.