Canandaigua National Trust Co of Florida Purchases 9,968 Shares of Colgate-Palmolive Company $CL

Canandaigua National Trust Co of Florida acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,968 shares of the company’s stock, valued at approximately $850,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after buying an additional 88,917 shares in the last quarter. Finally, Amundi grew its stake in shares of Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after acquiring an additional 1,033,918 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. UBS Group upped their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.65.

Colgate-Palmolive Price Performance

NYSE CL traded up $0.01 during trading hours on Wednesday, reaching $87.26. The company’s stock had a trading volume of 3,773,453 shares, compared to its average volume of 5,712,208. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. 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 company has a market capitalization of $69.56 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 4.02 and a beta of 0.33. The firm’s 50-day moving average price is $89.36 and its 200-day moving average price is $88.74.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data 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 business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given 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 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

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.