Glenview Trust Co Invests $755,000 in Colgate-Palmolive Company $CL

Glenview Trust Co bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,239 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CL. Flputnam Investment Management Co. increased its holdings in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after purchasing an additional 13,804 shares during the period. SEB Asset Management AB bought a new stake in Colgate-Palmolive during the 1st quarter valued at $91,149,000. Brandywine Financial Group lifted 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 worth $6,209,000 after buying an additional 72,649 shares during the period. Conning Inc. increased its stake in shares of Colgate-Palmolive by 10.2% during the fourth quarter. Conning Inc. now owns 426,753 shares of the company’s stock valued at $33,722,000 after buying an additional 39,655 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock valued at $625,758,000 after acquiring an additional 29,876 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several research reports. Royal Bank Of Canada upped their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Piper Sandler increased their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Activity

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.75 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The business’s fifty day simple moving average is $92.02 and its 200-day simple moving average is $90.06. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company has a market cap of $72.34 billion, a PE ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 84.13%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.