58,942 Colgate-Palmolive Company $CL Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 328.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,910 shares of the company’s stock after acquiring an additional 58,942 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Colgate-Palmolive were worth $6,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. TD Capital Management LLC boosted its stake in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Colgate-Palmolive during the 2nd quarter worth $32,000. Park Place Capital Corp increased its position in Colgate-Palmolive by 55.5% during the 2nd quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Cherry Tree Wealth Management LLC raised its stake in Colgate-Palmolive by 7,840.0% in the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 392 shares during the last quarter. Finally, Montgomery Financial Services LLC acquired a new stake in Colgate-Palmolive in the second quarter worth about $36,000. 80.41% of the stock is currently owned by institutional investors.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.15 during midday trading on Friday, reaching $88.25. The company’s stock had a trading volume of 807,549 shares, compared to its average volume of 5,678,305. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a fifty day moving average of $89.16 and a 200 day moving average of $88.77. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm has a market capitalization of $70.35 billion, a PE ratio of 35.02, a P/E/G ratio of 4.07 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CL. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Wells Fargo & Company cut their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.65.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.