Chemung Canal Trust Co. Purchases 71,558 Shares of Colgate-Palmolive (NYSE:CL)

Chemung Canal Trust Co. raised its position in Colgate-Palmolive (NYSE:CL) by 418.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 88,667 shares of the company’s stock after acquiring an additional 71,558 shares during the period. Colgate-Palmolive makes up about 1.5% of Chemung Canal Trust Co.’s holdings, making the stock its 20th largest holding. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $7,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock worth $604,000 after acquiring an additional 121 shares during the period. M&G Investment Management Ltd. raised its stake in Colgate-Palmolive by 0.3% during the 4th quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock valued at $3,942,000 after buying an additional 125 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Colgate-Palmolive by 3.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock worth $271,000 after buying an additional 127 shares during the last quarter. &PARTNERS lifted its holdings in Colgate-Palmolive by 0.7% in the fourth quarter. &PARTNERS now owns 17,643 shares of the company’s stock valued at $1,406,000 after acquiring an additional 129 shares during the period. Finally, AMG National Trust Bank grew its stake in shares of Colgate-Palmolive by 0.4% during the 4th quarter. AMG National Trust Bank now owns 30,232 shares of the company’s stock valued at $2,410,000 after purchasing an additional 131 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $97.04 on Friday. The company has a market cap of $79.62 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $99.08. The stock’s 50 day simple moving average is $93.87 and its two-hundred day simple moving average is $87.57. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Colgate-Palmolive’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 2.06%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Barclays lifted their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus boosted their price objective on Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.83.

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.