McKinley Carter Wealth Services Inc. Purchases 6,919 Shares of Colgate-Palmolive Company $CL

McKinley Carter Wealth Services Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 240.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,799 shares of the company’s stock after purchasing an additional 6,919 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Colgate-Palmolive were worth $836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CL. State Street Corp grew its stake in Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after acquiring an additional 46,476,510 shares during the period. Bank of New York Mellon Corp raised its position in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive during the second quarter worth about $567,483,000. Envestnet Asset Management Inc. lifted its holdings in shares of Colgate-Palmolive by 266.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after purchasing an additional 3,014,860 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Colgate-Palmolive by 151.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after purchasing an additional 2,575,530 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $94.02 on Friday. The stock has a 50-day moving average price of $89.05 and a two-hundred day moving average price of $89.02. The stock has a market cap of $74.95 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. 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 $0.92 EPS. Equities analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Buying and Selling

In related news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CL shares. BNP Paribas Exane decreased their price objective on Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley restated an “overweight” rating and set a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Finally, Raymond James Financial upped their price target on shares of Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.95.

Colgate-Palmolive Company Profile

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, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.