Trust Co. of Toledo NA OH Grows Position in Colgate-Palmolive (NYSE:CL)

Trust Co. of Toledo NA OH raised its position in Colgate-Palmolive (NYSE:CL) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,433 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Colgate-Palmolive were worth $1,810,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Colgate-Palmolive by 4.8% in the fourth quarter. Jones Financial Companies Lllp now owns 4,873 shares of the company’s stock valued at $388,000 after acquiring an additional 222 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Colgate-Palmolive by 6.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 694,659 shares of the company’s stock worth $55,371,000 after purchasing an additional 40,966 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Colgate-Palmolive by 3.7% during the fourth quarter. Rafferty Asset Management LLC now owns 63,883 shares of the company’s stock worth $5,092,000 after purchasing an additional 2,297 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Colgate-Palmolive by 12.6% during the fourth quarter. Belpointe Asset Management LLC now owns 5,552 shares of the company’s stock worth $443,000 after purchasing an additional 621 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $283,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last three months. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CL. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Evercore ISI boosted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Stifel Nicolaus boosted their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays upped their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Bank of America upped their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given 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 $104.74.

Colgate-Palmolive Price Performance

CL stock opened at $102.06 on Thursday. The stock has a 50-day moving average price of $103.59 and a two-hundred day moving average price of $96.66. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The stock has a market cap of $83.73 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.62 and a beta of 0.40.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. Colgate-Palmolive’s dividend payout ratio is 63.29%.

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.