Canandaigua National Bank & Trust Co. Sells 259 Shares of Colgate-Palmolive (NYSE:CL)

Canandaigua National Bank & Trust Co. lowered its stake in Colgate-Palmolive (NYSE:CL) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,541 shares of the company’s stock after selling 259 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $1,039,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after acquiring an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 16.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after acquiring an additional 4,625,472 shares in the last quarter. Morgan Stanley boosted its holdings in Colgate-Palmolive by 3.2% in the third quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock valued at $1,195,785,000 after acquiring an additional 514,559 shares in the last quarter. Northern Trust Corp boosted its holdings in Colgate-Palmolive by 3.3% in the third quarter. Northern Trust Corp now owns 9,452,931 shares of the company’s stock valued at $672,198,000 after acquiring an additional 305,862 shares in the last quarter. Finally, Norges Bank bought a new stake in Colgate-Palmolive in the fourth quarter valued at $731,843,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CL. Royal Bank of Canada boosted their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Evercore ISI boosted their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Bank of America boosted their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup boosted their target price on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Barclays boosted their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.94.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $97.02 on Wednesday. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $97.08. The business has a 50-day simple moving average of $92.05 and a two-hundred day simple moving average of $86.52. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The firm has a market cap of $79.60 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 3.53 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. Colgate-Palmolive’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% 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.