Chicago Partners Investment Group LLC Buys 5,940 Shares of Colgate-Palmolive Company $CL

Chicago Partners Investment Group LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,514 shares of the company’s stock after purchasing an additional 5,940 shares during the period. Chicago Partners Investment Group LLC’s holdings in Colgate-Palmolive were worth $2,681,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after acquiring an additional 1,010,872 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after buying an additional 88,917 shares during the period. Amundi increased its position in Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after purchasing an additional 1,033,918 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive during the second quarter valued at about $567,483,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity

In other news, CEO Noel R. Wallace sold 20,000 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the sale, the chief executive officer directly owned 359,700 shares in the company, valued at approximately $36,063,522. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 19,938 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total transaction of $1,968,678.12. Following the completion of the sale, the chief operating officer owned 9,111 shares in the company, valued at $899,620.14. The trade was a 68.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 73,314 shares of company stock valued at $7,212,109. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

CL stock traded down $2.08 during trading on Friday, reaching $96.61. The company had a trading volume of 5,464,263 shares, compared to its average volume of 4,806,784. The company has a market cap of $76.80 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 4.55 and a beta of 0.31. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96. Colgate-Palmolive Company has a twelve month low of $75.96 and a twelve month high of $101.18. The firm has a 50-day simple moving average of $90.12 and a 200-day simple moving average of $89.97.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. Colgate-Palmolive’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.91 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 83.14%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $104.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. UBS Group upped their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler cut their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, September 21st. Evercore increased their price target on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $108.00 price objective (up from $97.00) on shares of Colgate-Palmolive in a research report on Monday, November 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.22.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.