Chemung Canal Trust Co. increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 40.1% in the third quarter, HoldingsChannel.com reports. The firm owned 12,788 shares of the company’s stock after buying an additional 3,662 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $856,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. BB&T Securities LLC raised its holdings in Colgate-Palmolive by 20.0% in the 1st quarter. BB&T Securities LLC now owns 60,822 shares of the company’s stock valued at $4,359,000 after buying an additional 10,118 shares during the period. Baird Financial Group Inc. raised its holdings in Colgate-Palmolive by 25.9% in the 1st quarter. Baird Financial Group Inc. now owns 42,570 shares of the company’s stock valued at $3,051,000 after buying an additional 8,745 shares during the period. Allen Investment Management LLC purchased a new stake in Colgate-Palmolive in the 1st quarter valued at about $323,000. Green Square Capital LLC purchased a new stake in Colgate-Palmolive in the 1st quarter valued at about $878,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Colgate-Palmolive in the 1st quarter valued at about $5,010,000. Institutional investors and hedge funds own 74.54% of the company’s stock.

CL stock opened at $64.71 on Friday. The company has a debt-to-equity ratio of -34.49, a quick ratio of 0.74 and a current ratio of 1.06. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91. The company has a market cap of $58.10 billion, a P/E ratio of 22.55, a PEG ratio of 2.99 and a beta of 0.72.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current year.

Colgate-Palmolive announced that its board has authorized a share buyback program on Monday, June 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. Colgate-Palmolive’s payout ratio is 58.54%.

In related news, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the sale, the chief financial officer now directly owns 36,193 shares in the company, valued at $2,426,740.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the sale, the insider now owns 202,414 shares in the company, valued at $13,302,648.08. The disclosure for this sale can be found here. Insiders have sold 415,279 shares of company stock worth $27,384,156 over the last 90 days. Insiders own 1.02% of the company’s stock.

Several brokerages recently issued reports on CL. Argus restated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Atlantic Securities began coverage on shares of Colgate-Palmolive in a report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective on the stock. ValuEngine upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $64.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $72.25.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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