Mystic Asset Management Inc. Buys 15,998 Shares of Colgate-Palmolive Company $CL

Mystic Asset Management Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL) by 65.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 40,533 shares of the company’s stock after purchasing an additional 15,998 shares during the quarter. Mystic Asset Management Inc.’s holdings in Colgate-Palmolive were worth $3,458,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LP boosted its position in shares of Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock worth $58,639,000 after buying an additional 143,812 shares during the period. Bank of America Corp DE purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $567,483,000. Brandywine Financial Group raised its holdings in shares of Colgate-Palmolive by 35,612.3% in the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after buying an additional 72,649 shares during the period. SEB Asset Management AB acquired a new position in Colgate-Palmolive during the 1st quarter worth about $91,149,000. Finally, Robinhood Asset Management LLC acquired a new position in Colgate-Palmolive during the 2nd quarter worth about $11,554,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL traded down $0.21 during mid-day trading on Thursday, hitting $92.56. The company had a trading volume of 3,865,949 shares, compared to its average volume of 5,662,819. The company has a market capitalization of $73.79 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. The business’s 50-day simple moving average is $89.04 and its 200 day simple moving average is $88.93. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

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

Colgate-Palmolive Dividend Announcement

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

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were 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 $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $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 ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CL. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Morgan Stanley reissued an “overweight” rating and set a $104.00 price target (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group set a $106.00 price objective on shares of Colgate-Palmolive in a research note on Thursday. Finally, Citigroup lifted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.95.

Colgate-Palmolive 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, 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.