Carnegie Investment Counsel Has $2 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Carnegie Investment Counsel cut its holdings in Colgate-Palmolive (NYSE:CL) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,243 shares of the company’s stock after selling 500 shares during the quarter. Carnegie Investment Counsel’s holdings in Colgate-Palmolive were worth $1,998,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive in the second quarter valued at about $25,000. Rise Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth $38,000. Continuum Advisory LLC grew its holdings in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth $48,000. Finally, Gradient Investments LLC grew its holdings in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL opened at $100.10 on Monday. 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 has a 52-week low of $68.54 and a 52-week high of $109.30. The stock has a market capitalization of $82.13 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The stock’s 50 day moving average price is $103.56 and its 200-day moving average price is $97.25.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred 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 in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred 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 in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CL has been the subject of several recent research reports. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. UBS Group upped their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Citigroup upped their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America upped their price objective on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.00.

About Colgate-Palmolive

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.