Ledyard National Bank Increases Stock Holdings in Colgate-Palmolive Company $CL

Ledyard National Bank raised its stake in Colgate-Palmolive Company (NYSE:CL) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,258 shares of the company’s stock after purchasing an additional 164 shares during the quarter. Ledyard National Bank’s holdings in Colgate-Palmolive were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after buying an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after buying an additional 177,833 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CL shares. UBS Group decreased their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Barclays decreased their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group decreased their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $76.54 on Friday. The stock has a fifty day moving average price of $80.62 and a 200 day moving average price of $86.51. The stock has a market cap of $61.86 billion, a PE ratio of 21.50, a P/E/G ratio of 4.44 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $75.38 and a 1 year high of $100.18. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

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.