Colgate-Palmolive Company $CL Shares Sold by Vestor Capital LLC

Vestor Capital LLC lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 68.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,988 shares of the company’s stock after selling 10,911 shares during the period. Vestor Capital LLC’s holdings in Colgate-Palmolive were worth $419,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Corient Private Wealth LP raised its holdings in shares of Colgate-Palmolive by 29.0% in the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after purchasing an additional 143,812 shares during the last quarter. Bank of America Corp DE purchased a new position in Colgate-Palmolive during the second quarter worth about $567,483,000. Brandywine Financial Group grew its position in Colgate-Palmolive by 35,612.3% in the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares in the last quarter. Cohen Klingenstein LLC grew its position in Colgate-Palmolive by 9.0% in the 3rd quarter. Cohen Klingenstein LLC now owns 167,669 shares of the company’s stock worth $14,306,000 after purchasing an additional 13,870 shares in the last quarter. Finally, SEB Asset Management AB purchased a new stake in Colgate-Palmolive in the 1st quarter valued at about $91,149,000. Institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider John Hazlin sold 23,376 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total transaction of $2,317,730.40. Following the completion of the transaction, the insider directly owned 27,021 shares of the company’s stock, valued at approximately $2,679,132.15. This represents a 46.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Noel Wallace sold 20,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $100.26, for a total value of $2,005,200.00. Following the transaction, the chief executive officer directly owned 359,700 shares in the company, valued at $36,063,522. This represents a 5.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 73,314 shares of company stock worth $7,212,109. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $97.90 on Tuesday. The firm has a market cap of $77.82 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 4.48 and a beta of 0.31. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96. Colgate-Palmolive Company has a 52 week low of $75.96 and a 52 week high of $101.18. The firm’s 50-day simple moving average is $90.26 and its two-hundred day simple moving average is $90.04.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.92 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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 paid a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 83.14%.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, September 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings downgraded Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada boosted their price objective on Colgate-Palmolive from $104.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Finally, Morgan Stanley boosted their price objective on Colgate-Palmolive from $104.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.22.

Colgate-Palmolive Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.