Chemung Canal Trust Co. Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

Chemung Canal Trust Co. lessened its holdings in Colgate-Palmolive (NYSE:CL) by 38.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,245 shares of the company’s stock after selling 31,093 shares during the quarter. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $5,216,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Rafferty Asset Management LLC grew its holdings in shares of 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 during the last quarter. Belpointe Asset Management LLC raised its position in shares of Colgate-Palmolive by 12.6% during the 4th quarter. Belpointe Asset Management LLC now owns 5,552 shares of the company’s stock worth $443,000 after purchasing an additional 621 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $283,000. Tower Research Capital LLC TRC raised its position in shares of Colgate-Palmolive by 156.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 102,662 shares of the company’s stock worth $8,183,000 after purchasing an additional 62,654 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Colgate-Palmolive by 19.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 80,960 shares of the company’s stock worth $6,453,000 after acquiring an additional 13,315 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CL shares. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Sanford C. Bernstein boosted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.74.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction 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 owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock valued at $4,486,063 in the last quarter. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.9 %

Colgate-Palmolive stock traded down $0.89 during midday trading on Friday, reaching $99.08. The stock had a trading volume of 1,335,622 shares, compared to its average volume of 4,324,333. The firm’s fifty day simple moving average is $103.66 and its two-hundred day simple moving average is $96.68. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market cap of $81.29 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.62 and a beta of 0.40.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 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.